No. of Recommendations: 5
Wendy posted a flock of text from a WSJ article, quoting Bessent, on the Fool METaR board.
A snip of the snip.
The “extraordinary” monetary-policy tools unleashed after the 2008 financial crisis have transformed the Federal Reserve’s policy regime, with unpredictable consequences.
The Fed’s new operating model is effectively a gain-of-function monetary policy experiment. Overuse of nonstandard policies, mission creep and institutional bloat threaten the central bank’s independence. The Fed must change course…
My takeaway is everything he is saying, is the opposite of what Trump is saying, about Fed independence, and interference in the economy. Therefore, it's a smokescreen, to ease the minds of the Congresspeople who he needs to approve his nomination. Because the Congresspeople no-doubt figure he would be another Trump tool.
I remember my DM at RS, making all sorts of promises to me, if I just give him what he wants right now. Meanwhile, I was thinking "don't insult my intelligence. you'll screw me over, like you did last time".
Steve
No. of Recommendations: 4
My takeaway is everything he is saying, is the opposite of what Trump is saying, about Fed independence, and interference in the economy.
He's saying the right words, but look at what Trump is doing and not what his mouthpieces are saying. Trump is trying to subject every bit of government to his will and whim. The Fed is just the current target.
--Peter <== who had to say that a lot more diplomatically over at TMF
