Fortunately, there’s a clear way for him to mitigate that damage and start his term on the right foot with bond markets: He should declare his full faith in Federal Reserve Chair Jerome Powell, whose term runs until May 2026, and pledge to hold his tongue on matters of monetary policy.

Federal Reserve Chair Jerome Powell said Thursday that he will remain in his role through the duration of his term even if incoming President-elect Trump decides to call for his resignation. The Fed announced a 25 basis point interest rate cut and during ...