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Powell V. Sorkin
Jerome Powell sat down Wednesday for a mostly pointless conversation with Andrew Ross Sorkin for The New York Times DealBook summit.
It pains me to cover these fireside chats. Really it does. No one learns anything. It's a waste of time. Full stop. Alas.
"Do you think the Fed could come under some kind of DOGE-like program?" Sorkin wondered, effectively asking if Elon Musk might attempt to somehow cull the Fed's army of economists and staffers. Powell reminded Sorkin that the Fed's self-funded
He was just calm and reassuring. As you said, how much more can you expect from something like that forum?
But I was delighted and heartened to see this headline scroll past while the broadcast was running:
“Trump picks Peter Navarro to serve as a top trade adviser” Step aside Scott “DEI” Bessent! Your opinions are unneeded and will be unheeded.
All this before the inauguration is interesting. Trump’s honeymoon looks like it’s going to be very short. He has 15 months to get something done, after that it’s lame duck time.
Trump Chooses Crypto Advocate Paul Atkins to Lead SEC
Plain English. Along the lines of being “data dependent”? Joe Public also appreciates consistency. The Fed has been inconsistent in their interpretation and application of “data dependent.” Perhaps even more egregious is their butchering of “restrictive” relative to an unknown “neutral,” as H as described very well several (many?) times.
They’re making it up as they go…again.