I think the real person in charge of economic matters is Bessent and not Trump: Warsh is against using fed balance sheet to juice assets prices, like the Treasury Secretary (and his former boss Druckenmiller). And I suspect that they pay only lip service to lower interest rates.
skiing in the mountains and lots of time to read and just finished the Project 2025 agenda (no just kidding): read from page 731 onwards and you will have a glimpse of what is going to happen with FED, as Jeff Gundlach always says, just follow the 2y TSY yield and abolish the FED completely, if DJT is really for main street and six pack JOE, Warsh agenda for next years is crytsall clear to me: no more bailouts, no QE, USD pegging on gold/silver would be US GDP killer but who cares, but the agenda is clear, focus on price stability and finish job with balance sheet expansion, which only benefits asset holders which are not voters for DJT, i asked Manus AI on connection from authors on FED and ALL endorse Warsh as FED chair, something big is going to happen to FED and that is not interest rate down...
Thank you - I am having a read. I wrote my honours thesis on free banking, as its last vestiges live on in HK (HK dollars are issued by 4 different local banks - HSBC, Stan Chart BOC and one other). Even then it is still ultimately backed by the MAS. Despite that - I can see what gold has soared and bitcoin and private equity have crashed after the Warsh announcement. I feel this should be negative for Fannie Mae and Freddie Mac as well. Will have a think
Very good this Russell, thanks. Perhaps we should keep one eye on what happens after Trump, as it could come sooner rather than later. Would Bessant stay? Interesting Miran has left post.
I think its best to wait until Trump is gone before thinking what comes next... The problem is that politicians will do what voters want - even if Trump's polls are poor - if voters are still "populist" then not much will change
Yes, I think they will remain populists. But I would say most of what has been done so far has been on foreign policy; there isn't much time left for him to sort out the domestic issues. And that, I think, is what the populists really give a hoot about.
Trump is at heart a real estate man. The chances of him wanting higher rates somewhat limited! He really wants lower rates but maybe Mr Market may eventually disappoint him.
I think the real person in charge of economic matters is Bessent and not Trump: Warsh is against using fed balance sheet to juice assets prices, like the Treasury Secretary (and his former boss Druckenmiller). And I suspect that they pay only lip service to lower interest rates.
skiing in the mountains and lots of time to read and just finished the Project 2025 agenda (no just kidding): read from page 731 onwards and you will have a glimpse of what is going to happen with FED, as Jeff Gundlach always says, just follow the 2y TSY yield and abolish the FED completely, if DJT is really for main street and six pack JOE, Warsh agenda for next years is crytsall clear to me: no more bailouts, no QE, USD pegging on gold/silver would be US GDP killer but who cares, but the agenda is clear, focus on price stability and finish job with balance sheet expansion, which only benefits asset holders which are not voters for DJT, i asked Manus AI on connection from authors on FED and ALL endorse Warsh as FED chair, something big is going to happen to FED and that is not interest rate down...
Thank you - I am having a read. I wrote my honours thesis on free banking, as its last vestiges live on in HK (HK dollars are issued by 4 different local banks - HSBC, Stan Chart BOC and one other). Even then it is still ultimately backed by the MAS. Despite that - I can see what gold has soared and bitcoin and private equity have crashed after the Warsh announcement. I feel this should be negative for Fannie Mae and Freddie Mac as well. Will have a think
Agreed and I can’t see China not increasing their holdings of Gold.
I already knew the answer before reading the (excellent) article... Betteridge's law never fails!
Excellent. Thanks Russell.
Very good this Russell, thanks. Perhaps we should keep one eye on what happens after Trump, as it could come sooner rather than later. Would Bessant stay? Interesting Miran has left post.
I think its best to wait until Trump is gone before thinking what comes next... The problem is that politicians will do what voters want - even if Trump's polls are poor - if voters are still "populist" then not much will change
Yes, I think they will remain populists. But I would say most of what has been done so far has been on foreign policy; there isn't much time left for him to sort out the domestic issues. And that, I think, is what the populists really give a hoot about.
Trump is at heart a real estate man. The chances of him wanting higher rates somewhat limited! He really wants lower rates but maybe Mr Market may eventually disappoint him.
Yes... I think he is like Erdogan... will react to markets temporarily... but trend will hold
I completely agree 👌🏻
It seems so straight forward, it makes me feel like I am missing something... well lets see