Jerome Powell Takes A ‘First, Do No Harm’ Approach In Prepared Remarks To Congress
Careful! Don’t break anything.
Careful! Don’t break anything.
The benefits of this don’t accrue linearly, but rather exponentially.
This may mean that the market has become too comfortable with the trade outlook.
“Two strategies that in theory should have little to do with each other” have been “nearly 100% correlated” recently.
“What’s certain is that”…
It would be the first time the Trump administration has removed duties since the beginning of the trade war.
“Today makes clear that a bipartisan, bicameral coalition in Congress will not sit on the sidelines”.
What could go wrong?
Trade optimism is running rampant and crowded positioning looks set to unwind.
A “necessary condition”.
The point of no return…
What if he doesn’t even run?
It’s a somewhat uncomfortable discussion. But Trump will have it. You can be sure of that.
The two sides “are in the process of resolving outstanding issues”.
“My approach to Medicare for All would mark one of the greatest federal expansions of middle class wealth in our history”.
“Many believe Trump will keep at least one more ‘negative trade surprise’ in his pocket”.
A sustained rotation requires an improvement in the data, the bank warns.
“Not only are the non-centrists shaping the narratives, but their proponents are the main contestants”.
It’s still too early for a sustained rotation within and across assets.
Here comes the “Pence doctrineâ€.
“…if any of those clowns became President!”
“I am coming up with a new one”.
The tail is wagging the dog.
“Monetary madness like we have never seen before”.
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