@elerianm funny how wrong the market is with the initial reaction - Warsh is a dove looking for cover through his selected task forces to change how inflation is calculated.
No forward guidance = no transparency and... Warsh will move the goalposts on inflation & get a committee to rubberstamp them.
Live trading room client gets it:
"so mkt is calming down and going up coz they are interpreting the task forces as a way to make fed policies more mkt freindly? like changing inflation gauge itself that will make it easy to cut rates eventually?"
No forward guidance = no transparency and... Warsh will move the goalposts on inflation & get a committee to rubberstamp them.
Live trading room client gets it:
"so mkt is calming down and going up coz they are interpreting the task forces as a way to make fed policies more mkt freindly? like changing inflation gauge itself that will make it easy to cut rates eventually?"
No forward guidance = no transparency and... Warsh will move the goalposts on inflation & get a committee to rubberstamp them.
Live trading room client gets it:
"so mkt is calming down and going up coz they are interpreting the task forces as a way to make fed policies more mkt freindly? like changing inflation gauge itself that will make it easy to cut rates eventually?"
🚨🇺🇸🇮🇷President Trump claimed in a short interview with me that the signing of the U.S.-Iran deal for ending the war is still on track for Sunday deapite of the Israeli strike in Beirut and the Iranian threat to retaliate