I admit I like him a lot, much more than the market or the fin reporters, but man he was a hypocrite up there today, saying 2.0% is a firm (not soft) target but not hiking today and implying it was the market's job to control inflation. The GDP and initial jobless numbers better be perfect tomorrow.
That dump from 3-3:30 is so was baaaaaaad
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IDK. Raising the discount rate seems like a good way to soak it up when people are bidding up prices with their unspent COVID stimulus money. But it's more of a real hardship when prices are rising due to the cost of petroleum, tariffs, and labor shortages due to deportations and immigrants afraid to go to work.
It seems like it's a no brainer that the US should put an export tax on petroleum and derivatives. For us geezers, it's a minor miracle that the US became a net zero importer of energy. But it does little good if we're going to pay the world price for it anyway.
Instead of trying to straighten out the Middle East clusterfuck, Trump should put Machado and her people into the offices they won by election in Venezuela. But he's got to send people there to make sure she doesn't bring back the cronyism and corruption that lead to Chavez in the first place. Then help get their oil wells back in production ASAP, and the specialized refining capacity needed to handle their oil.
Problem with cronyism is that the good times are like a shooting star. It’ll burn out as quickly as it starts. After the mid terms well have a lame duck and everyone will know it, and markets will get Volatile.
never mind, Kevin. Just please don't f up Jackson WY or September.
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