Rudy Bouguelli

For the record: Warsh, Druckenmiller, Bessent, and the New Accord Moment When I first floated the idea of a renewed accord between the Fed and Treasury, akin to the pre‑1951 dynamic, the reaction from Wall Street researchers was predictably skeptical. Likewise, when I argued that Warsh would be an ideal Fed chair candidate and that his alignment with Druckenmiller and Bessent made such an accord plausible, the notion was met with the usual hand‑waving. Now that Warsh himself is publicly advancing the same idea, the Street appears, as usual, to be arriving fashionably late to the obvious.

J’ai un souvenir très vivace de ma première épiphanie lors de mon tout premier cours d’éco, quand on m’a expliqué l’effet des changements de taux directeurs. Je suis sûr que plein de gens lisent ça et se disent “ok et alors ?”. Ben alors laissez-moi vous expliquer ⤵️