Asked Wednesday which inflation measure he relies on, Fed Chairman Kevin Warsh gave "the proper, standard answer"—the PCE price index—then immediately qualified it: "Who knows come after next January what we might say about strategy. I suspect the task forces might have something to add."
The comment drew attention from former Fed economists (as did his remarks during his Senate confirmation hearing about looking at trimmed averages).
In a client note Wednesday, JPMorgan's Michael Feroli said the latest comments "seem to confirm suspicions that the task forces are just covers to redefine the inflation challenge away."
This is what Warsh said 15 months earlier in a speech at the IMF: "[F]requent changes to the Fed's metrics—including its professed preferred measures of inflation—are beneath the high standing of the central bank. Central bank credibility is the coin that purchases American economic strength. In Washington, a central banker can ill-afford to be anything other than a straight-shooter."
Howard Lutnick, the Secretary of Commerce, hosted a $2,700-a-head Hillary Clinton fundraiser at Cantor Fitzgerald in November 2015.
The invitation was sitting in Jeffrey Epstein's files.
Photo with Hillary included, the card promised.
More US bases go up in smoke in Kuwait.
Iran isn't waiting to be struck anymore and is tightening the OODA loop. The idea is to destroy the stand off range platform that would otherwise strike Iran BEFORE they launch -- how you actually fight a real war.
I will be scrutinising Iran's performance and judging what it's doing correctly/incorrectly based on on-the-ground reports. Unfortunately my source in Kuwait is going to be evacuating soon. I still have one source in Bahrain, but that seems to be facing fewer attacks (not as many targets?).
Palladium has an enormous 40-year parabolic base in the making.
Another 21x move looks very likely.
Should outperform even silver.
The commodities bull is a true get-out-of-rat-race opportunity.
Said palladium was bottoming in the linked post below. It sure was. Been posting that platinum and palladium were about to move big, and now they are. The PGM bull market has now started, and it will be a complete animal.