Idk if he meant to do this, but Warsh, imo, undermined the 2% PCE inflation target. He was asked what the Fed targets and he said he'd give 2 answers. Sure, he watches PCE, but "Who knows come after next January what we might say about strategy." Uhhhh....
@jukan05 Trying to be taller than other buildings, is telltale sign of a bubble.
Interesting fact: Before the great depression, the height of the to be constructed building were often kept as a secret by the architect in a deliberate effort not to be out-build by its competitors.
@jukan05 Bank of Manhattan Trust Building: Ground broke in 1929 just before the crash, standing at 72 stories (282 meters) on Wall Street. (2/2)
Empire State Building: Planned and started during the peak market optimism of 1929–1930 and completed in 1931 at 381 meters (102 floors)