04Jan11:22 amEST

A New Type of Logic

It is a bit odd to see Fed Chair Powell pick a day with a very strong jobs report to soften his previously-rigid (compared to, say, Bernanke) tone regarding his hawkish monetary bias. But that is exactly what he has done this morning, as Powell blatantly acquiesced to President Trump's line about "hearing the stock market." Incidentally, the whole issue about "hearing" the market begs the question of whether The Fed can actually hear the market, in lieu of "listening" to it (see film clip, below). 

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