Discover and read the best of Twitter Threads about #JeromePowell

Most recents (14)

The Biden administration keeps proving that personnel are policy. Biden himself is a kind of empty vessel into which different wings of the Democratic party pour their will, yielding a strange brew of appointments both great and terrible. 1/ A bombed out neighborhood. Over the crumbling houses is the
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on, my surveillance-free, ad-free, tracker-free blog:… 2/
On the one hand, you have progressive appointments like #JonathanKanter at @JusticeATR and @linakhanFTC at the @FTC, leaders who are determined to challenge and curb corporate power:… 3/
Read 63 tweets
The #FederalReserve Chairman #JeromePowell spoke indicating the Fed not pivoting but slowing interest rate increases if the #StockMarket behaves & #PCE & #CPI inflation data is OK.

#Stocks have been vulnerable to THE KISS OF DEATH.

Let's take todays #PCE Data report 1-by-1

1.) Jobless claims - close enough to market expectation (Neutral)
2.) Continuing jobless - higher than previous (Fed will like this, so good for stocks, sadly)
Read 23 tweets
@federalreserve #JeromePowell is the #LordCommanderoftheWall, the black suits stoic and regal, silently defending us from pure chaos, by building the highest #interestrate wall that we have ever seen in person before. What soundlessly waits is utterly terrifying.
As #inflation rises, a lot of things are becoming stickier and blazing hot like 🐉 🔥, endlessly surrounding all sectors. The world maybe burning silently; but, America is not #kingslanding
We are #WinterFell, it’s denizens are the protectors, the defenders, and we are the freest western land in the world, where you can enter a Snow experiencing #maxpain and absorbing the #fomc #75bbs hikes as if the 🐉 🔥 wasn’t burning at all.
Read 6 tweets
Here are a few slides I sent the guys by way of a pre-amble:
For all the blithe talk about #EnergyTransition, the blunt truth is that civilisation runs on hydrocarbons. Remove the latter and the former falls, too.

Even the food we eat requires them. We have not improved the living standards of all our teeming billions on the quasi-Neolithic methods of farming so beloved of the ignorant #Green metromarxists.

Read 8 tweets
As the FED @federalreserve searches for candidates to fill Fed Governor positions, their team is ranking new candidates on 4 categories: 1. Economics 2.Financial Markets/Banking 3.Leadership 4.Diversity. They recently had one open position down to a handful 1/4
candidates whereby they were then ranked on the new system. The Fed kills any candidates who fail the “diversity” category regardless of their capacity to understand, govern, and overall merit. The FED is the single most important economic 2/4
Institution in the world. Given the inflationary mess the US and the world face today, walking away from the absolute top candidates due to the diversity issue is incredibly short-sighted and doing our country and the world a major disservice in our time of extreme need. 3/4
Read 5 tweets
1/9 don't think so much about #jeromepowell, check out the deleveraging happening in the option chain! here is why:
2/9 options gained enormous popularity in 20/21, especially in retail, which peaked in the meme stock mania in Jan/Feb 21. this was fueled by the monetary and fiscal stimulus which created a rare case of a bull mkt with a sustained vix >20, ideal setup for momentum strategies.
3/9 options are leveraged bets, they can fuel bull runs, but also exacerbate corrections once the deleveraging process starts. last year, total option vol has been 2x the '19 level in terms of # of contracts traded.
Read 9 tweets
Thanks to @GeoffCutmore, @cnbcKaren & the #SquawkBox team for having me on this morning's show.

We discussed #bonds & #centralbanks, touched on #supplychains & talked of #Growth's vulnerability, #commodities' appeal.

Slide deck follows:-

Is your box still backed up in port? How much does the onward haulage cost? What happens to #freight rates after #LNY/#Beijing2022?
The bet is that #energy cannot *possibly* rise as far and fast this year as last, but what about all the other inputs? To what extent are these and other costs yet to be passed on?


Read 15 tweets
1/Thanks to @steve_sedgwick and @cnbcKaren for having me on @CNBC #SquawkBox this morning.

We talked about - what else? - #inflation and #centralbanks and whether the #Fed & peers are 'making an historic mistake', in Steve's words.

A few charts & comments for background:-
2/It's trite to say the jump in price indices is *all* attributable to a 'basis effect' when they've accelerated so much THIS year.
3/ #JeromePowell and his merry band may wish to believe that the rise is a mere blip, but all too many businessmen & women (i.e., the people who *really* matter) seem to believe the converse is the case.
Read 10 tweets
Thanks to @steve_sedgwick & @cnbcKaren for having me on #CNBC #SquawkBox this AM.

What did we discuss? Well, #inflation of course!

I prepared some slides for the show which I'm happy to present in this thread.
#macro #Fed #Yellen #JeromePowell #bankofengland #QE
Are people in denial or is the #centralbank money flood just drowning all the signals?
#Commodities, #freight, #carbon - and a whole lot besides - sure do cost a lot more, these days.
Read 14 tweets
In preparation for my slot on #SquawkBox yesterday, I sent the guys a few slides as a synopsis of my last, detailed subscriber report for the discussion.

I called it #Pyromania. Feel free to take a look


#macro #bonds #commodities #dollar #inflation #centralbanks #fiscal
Is it possible to overkill an act of overkill? #JeromePowell & #JanetYellen seem set to let us find out.

Not that they're alone in their folly, of course. The #ECB is outodoing them handsomely, while the #bankofengland is breaking records stretching back to its founding, 327 years ago.
Read 10 tweets
1/TrackRecord's Market Musings😎: Fed Puts Ball Firmly In Congress’ Court

22nd Sep, POWELL: “Many of our programs rely on emergency lending powers that require the support of the Treasury Department and are available only in unusual circumstances.”
2/23rd Sep, POWELL: “Have done basically all of the things that we can think of”
3/24th Sep, POWELL: “While households are spending now, perhaps using what's left of money from the $2.3 trillion package passed by Congress in Mar, the risk is they will go through that money, ultimately, and hv to cut back on spending and maybe lose their home or their lease...
Read 8 tweets
#jacksonhole #jeromepowell
The possible era of #deflation in a fight against #inflation

Despite Zero or low Interest rates central banks have had a hard time reaching their inflation targets. But now it seems confirmed that it’s not low central bank policy rate which causes...
low inflation , but rather the low real interest rate
Ever since central banks embarked on their near zero interest rate policies and large scale asset purchase programme , Reality has proved them wrong , we have seen trends towards deflation rather than inflationary pressures
Post 2020, what we are seeing is loss of jobs and low employment levels , in case there is severe declines in demand side , and If employers are unwilling or unable to reduce wages they will have to reduce the number of employees,
Read 8 tweets
Folks @FortuneMagazine surveyed the CEOS of the world's largest corporations about #COVID19 #pandemic and The Great Recession/Depression. Some of the results may shock you. First of all, about half of all jobs are not coming back until a year from now, or never.
@CliftonLeaf MORE
2/CEOs survey
Most of the CEOs surveyed have done layoffs & furloughs, and plan to come out of the other end of the #COVID19 crisis with leaner, tech-heavy transformed businesses. Few plan to increase their labor forces.
3/CEOS survey
@FortuneMagazine found that #COVID19 has business leaders thinking well of US Governors, #JeromePowell and themselves (fellow CEOs).
And thinking badly of China, #Trump , @WHO & the US federal govt.
Read 6 tweets
In a world where people still starve (though thankfully proportionately fewer over time) and material needs in general are unsated, there can be no #savingsglut. There CAN be misallocations of saving -due to corrupted price signals or corrupted polities, or both- but that’s...
...a very different matter.
Secondly, ‘saving’ is supposed to represent an available resource -whether for consumption or production, whether material or human. It is NOT something which magically appears when the #centralbank & its minions sit behind a keyboard...
If #JeromePowell or M #Lagarde cause a million smackers to appear in everyone’s account overnight, bank balances will have risen; #savings, will NOT. Even a man as unnuanced as Mussolini got this, sneering that Italians’ wealth would not rise if they all had more printed...
Read 13 tweets

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