Bipartisan Shambles

"The recognition of inflation"

Classic CNBC

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Our intrepid Treasury Secretary!

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According to the Fed’s own (strange) measure here, we currently have “financial conditions that are looser than average.”

Fed Independence?

"Basically, every single person who donates who works at the Fed donates to Democratic Party…It's not so much of a bias towards this candidate or the other, it's that they share the same worldview."

- Joseph Wang

Here’s Wang on “printing Treasuries”:

The markets had a conniption on Thursday, for whatever reason...

This was one disappointment:

ISM Manufacturing Index

“The latest reading of 46.8 indicates we are in contraction territory. What sort of correlation does that have with the months before the start of recessions? Check out the blue dots in the chart below. The 11 recessions during this time frame are indicated along with the index value the month before the recession starts.”

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