I may have misspoken in the post below. If my hazy memory serves I think I remember something about Powell not being a formally trained economist. But it does not alter the post’s points in the least.
Jerome Powell is a trained economist. He presides over a committee of trained economists. Now, you may know that I don’t value the term “trained economist” much more than I do the terms “trained monkey” or “dancing bear”, but in this case the economists certainly are on the inside and in the know about the inner workings of the rigged, manipulated and off the charts financial system.
This guy? He’s a broken record. A bully gets hyper focused on a subject and just cannot help it. He gets off on the bullying as he speaks to a base of 90% economic know-nothings, giving them sound bites and tweets. “Yeah yeah Mr. President, give ’em hell! Yeah!!”
Mr. Trump, for fuck’s sake why don’t you let the man unfold his plans in true Fed fashion, which is normally to pretend one thing and implement another, systematically over time.
Reading Trump’s anti-Powell screeds and his stock market pump tweets makes me really hope that point 5 on SPX really will be a reversal. But then, that is emotion so I have bite down on that as FOMC rides off into the sunset and Trump gets back to bashing someone else.
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