JUST IN - ๐บ๐ธ US Congressman files legislation to FIRE the Chairman of the SEC, saying "U.S. capital markets must be protected from a tyrannical Chairman"
๐จ NEWS - Today I filed the SEC Stabilization Act to restructure the @SECGov and #FireGaryGensler.
U.S. capital markets must be protected from a tyrannical Chairman, including the current one. Itโs time for real reform and to fire @GaryGensler as Chair of the SEC. Statement โฌ๏ธ
Interest rate expectations swing from a 15% to 50% chance of a rate hike, then begin pricing in rate cuts all within a matter of hours.
This has happened multiple times over the last couple of weeks.
The problem is that multiple Fed speakers per day are giving completely different outlooks.
As a result, markets are confused and volatility worsens, the exact opposite of the reason the Fed exists.
The Fed continues to be the primary source of volatility.
The #mempool congestion is resolving itself slowly but surely. A few days ago 440.000 transactions were unconfirmed, right now there's only 300.000 โฐ
Today, the core #CPI excluding housing decreased from 5.73 last month to 5.16. Although housing is yet to show signs of cooling down, it is expected to do so in June or July.