By the way, I’ve ordered more of the coffee I sent you for your birthday, Peter, (Happy Monday!) and it’s listed as out for delivery today! Unfortunately, they sent it via USPS this time. I hope that doesn’t necessitate a special trip to the Post Office for you, but, well, you’ll do it for good coffee, right?
The interesting response to watch for now is Trump’s. Will he express disappointment at Warsh’s wimpy word salad? Can he goad Warsh into being more like, say, Hegseth?
Thanks for explaining some historic Fed actions (Greenspan, Bernanke, et al) that puzzled me at the time, Peter!
I expect Trump will make his opinions about Fed interest rate decisions known as they get made. The big question right now is going to be whether or not the Fed will raise the federal funds rate next month. Right now, the odds are looking good for a 25bps rate hike.
However, between now and then there is an Employment Situation Summary report and a Consumer Price Index report to come out.
While inflation has not been going down lately, neither has it been going up. That coupled with weak job reports is a fairly solid base case for standing pat on the federal funds rate. Given that the Wall Street projection for the July JOLTS report is a wee bit on the pessismistic side, I don't expect the ESS for August to have much in the way of good news, and the CPI has not been printing the amount of inflation one would expect given events in the Persian Gulf.
At this point I don't want to speculate on how Warsh will respond to the latest jobs report.
By the way, I’ve ordered more of the coffee I sent you for your birthday, Peter, (Happy Monday!) and it’s listed as out for delivery today! Unfortunately, they sent it via USPS this time. I hope that doesn’t necessitate a special trip to the Post Office for you, but, well, you’ll do it for good coffee, right?
I’ll check the mailbox later and see. They might have been able to stuff it in!
(And thanks!)
Delivered! “Package was left inside the residence’s mailbox.” Yay - the Post Office did something right, even on a Monday!
I love to make your day a little better, Magnificent Man. (Pesky adoring fans, always sending you presents!)
The interesting response to watch for now is Trump’s. Will he express disappointment at Warsh’s wimpy word salad? Can he goad Warsh into being more like, say, Hegseth?
Thanks for explaining some historic Fed actions (Greenspan, Bernanke, et al) that puzzled me at the time, Peter!
I expect Trump will make his opinions about Fed interest rate decisions known as they get made. The big question right now is going to be whether or not the Fed will raise the federal funds rate next month. Right now, the odds are looking good for a 25bps rate hike.
However, between now and then there is an Employment Situation Summary report and a Consumer Price Index report to come out.
While inflation has not been going down lately, neither has it been going up. That coupled with weak job reports is a fairly solid base case for standing pat on the federal funds rate. Given that the Wall Street projection for the July JOLTS report is a wee bit on the pessismistic side, I don't expect the ESS for August to have much in the way of good news, and the CPI has not been printing the amount of inflation one would expect given events in the Persian Gulf.
At this point I don't want to speculate on how Warsh will respond to the latest jobs report.