Eric Wallerstein
6.3K posts
@ericwallerstein
Chief Macro Strategist, Clocktower Group. formerly at the Fed, White House, WSJ.
Every single day that this war goes on, the more the economic damage just compounds. This is the key line right here from @tracyalloway bloomberg.com/news/newslette…
3-5 years might not count as a transitory shock
talked to Politico on Saturday and made a bold call—holistically, i think this episode is +EV for the US and USD assets. It’s much worse for China…
When you see markets pricing in no chance of a cut in April, and less than a cut this entire year, and we are still talking about the possibility of three dissents against holding rates constant today, you realize how much damage Trump has already done to the @federalreserve.
@0xDamien Once the dollar rally is done but right now rest of the world central banks are pricing in hikes and the Fed is pricing in cuts. I don’t think that makes any sense so rate differentials are offside here Need that to reprice before I’m interested in gold again
increasingly likely this war drags on for another ~6-8 weeks
A longstanding taboo around Fed governors dissenting against the chair has been broken. Recent fractures have fallen along political lines. On what that means for the institution—and for the next chair. wsj.com/economy/centra…
