24 September 2019

Aesop - part the second

What Powell should say, "We're having to do all this backstopping and other gyrations because that fucking moron in the White House keeps shitting the bed."

What Powell will say, "".

[update 24 Sep]
The researchers found that over the past year, Trump's tweets have lowered market expectations of interest rates by a tenth of a percentage point. Although that may sound small, the academics argue this is significant given that a typical rate cut by the Fed is a quarter of a percentage point.
"Our findings suggest that market participants believe that the erosion to central bank independence is significant and persistent," the researchers in the NBER working paper wrote.

Corruption is corrosive.

No comments: