Skanda Amarnath
Executive Director of Employ America
Macro / Labor / Finance / Energy / Chart posting
- Trump wanted low rates but when you pick the most partisan guy on the basis of obsequiousness, he may not get what he wants... Also doesn't help when the dollar has shown persistent weakening for the first time in a while.
- The long-term borrowing costs that American businesses, families, and Uncle Sam face...those are based on more than one election cycle If you're going to cut rates to please the current President, there's some additional inflation or future rate hikes that also get priced in...
- What you can expect from Warsh as Fed Chair -More emphasis on what suits POTUS if it's a Republican -Sudden concerns about inflation and fiscal deficits the moment it's not an R in the WH. Don't expect the Fed to be a good-faith broker if govt is divided in the next crisis
- Sure sounds like Kevin Warsh is Trump's Fed Chair choice His views mostly change based on which master he intends to serve, and general partisan convenience. Thought rates were too low until...November 2024. What a shocker Tired: Data-dependence Wired: Presidential-dependence
