Cole Baker

In my 40+ years of being an economist, I have never seen the Fed more overtly political. Nor have I seen a battle like this errupt between the Fed and Whitehouse. The Fed has always had an unwritten rule about commenting on fiscal policy issues. It quietly supported TARP. It ignored the Obama tax hikes, and the massive Biden deficits. It ignored millions of illegal immigrants crossing the border. It ignored hundreds of billions in spending and subsidies being shifted toward solar and wind, which are less productive than fossil fuels. It also monetized that spending with Quantitative Easing. It cut rates before the 2024 election (which it has always tried to avoid). Now some on the Fed are saying they want to raise rates due to fears of inflation even though inflation was higher in 2024 when it cut rates. And the Fed can’t shut up about tariffs. It is patently obvious that the Fed has decided to play politics. They will argue that Trump started it. But QE actually started it. The Fed funded big growth in government and deficits. For Kashkari to blame Hassett for undermining Fed independence is laughable. No one should know the names of the people on the Fed…but these people are trying to be controversial. They want to be political. The Fed’s balance sheet must be trimmed…along with many thousands of Fed staff. It is absolutely untrue that the world is safer because of the massive increase in the size of the Fed’s balance sheet. The Fed is full of itself. I want a smaller, humble, quiet and much less active Fed.

@JLas43_ That’s the fun part. A different guy gets benched everyday

Something’s gotta give man. Someone has to be benched or fired or something. You can’t just blame the June swoon anymore

@spann coming into Eagle Point area

@wesbury Wesbury for Fed Chairman? 🐐

All these people going nuts over Trumps picks. Just amazing. To paraphrase William Buckley…I would rather be governed by the first 1000 people in the phone book, than this crew. We have $36 trillion in debt. We’ve had the highest inflation in 40 years. Real GDP has only grown 2.1% per year in the past 20 years. The Fed has nearly $1 trillion in losses on its books. Banks have over $500 billion of mark-to-market losses on their books. The military can’t reach its recruitment goals. 83% of Chicago Public School students are not proficient in math. The personal savings rate is less than half its 1960s level. Houses aren’t affordable. Health Care is unaffordable. People can’t repay student loans. I won’t even go through what has happened to the President himself. Please tell me how making sure we only appoint tanned, rested and ready DC insiders, with “experience” in government is working?

Your 401k right now is like your face: Don't touch it

Every time you read a headline that says something like “Coronavirus cases surge to over 100,000” remember this is the total cases found since the beginning. As of today, 56,000 have recovered. Total known “active cases” today are about 41,000.

@Cl8ytonJones I’m PuLlInG fOr ThE tIgErS

Whispers: play clock clearly hit zero before the Texans converted 3rd and 18.

Abraham: Do you bite your thumb at us, sir? Sampson:

@stephenasmith @dallascowboys Steven A it’s 2019 man you can’t be faxing people

Aaaahhhhhhh!!!!!! Right on time. 3-Days before Christmas. Right when @dallascowboys FANS are about to open their gifts. Haaaaaa!!!!!!

Well said @RepJerryNadler. (Just about all politicians are hypocrites, but these Nadler quotes from the Clinton impeachment are so great in light of the present Trump situation). Via @WSJ:

Power couple

Rig job in effect by the CFB playoff committee: Wisconsin, Penn State & Michigan are ranked seven spots higher in CFB rankings than in AP or Coaches Poll. UF, Bama & AU are six spots lower in CFP than in AP or Coaches. Ohio State is being protected to keep LSU from one seed.

This Is The Way...

@nflmemes Did you watch the Ironbowl?

The is the wildest pick 6 you’ll ever see in your life

Doink

Excellent form on the box out by the cameraman

Every Mom on Christmas morning watching you open presents:

Back test vs. live returns.

“We are actively competing with nations who openly [use]...negative interest,” Trump told the Economic Club of New York. “Our Federal Reserve doesn’t let us do it.” “It puts us at a competitive disadvantage....” NOT! Negative rates don’t work. Europe and Japan are growing slower.