Prices and unemployment are heading up. Everything else is going down.

The economy is heading into very bad weather. Brace yourselves.

Friends,

Today, the Federal Reserve decided to leave interest rates where they are, at 4.25 percent to 4.5 percent. Although the Fed acknowledged that the labor market was still “solid,” it also noted that “risks of higher unemployment and higher inflation have risen.”

Recall that last November, the single biggest reason voters gave in exit polls for choo…