Independent central banking is a neoliberal shibboleth, but the neoliberal era is clearly over...

"If anything, this challenge to the Fed’s independence could prompt the FOMC to take a slightly more hawkish stance to defend the institution."

“I felt like I was in ‘The Purge,’...”

Futures positioning of speculators shows a preference for precious metals and real assets and an aversion to the dollar, consistent with a loss of confidence in the Fed’s independence...

...the sheer size of asset manager short VIX futures is extreme...

“Concerns about the Fed’s independence have really been reinforced with the latest criminal investigation. Our expectation, though, is that this is a committee decision. I have no doubt that in his remaining term as chair, Powell is going to make decisions based on the economic data.”

"This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure or intimidation." - Jerome Powell

JPM officially kicks off 4Q 2025 earnings season on Tuesday morning...

While the geopolitical story is complex, the market’s message in energy stocks is straightforward...

"with US national debt rising $1tn next 100 day, that’s precisely why bonds work as the Trump administration has to QE to maintain bid for bonds and stop markets testing new Fed Chair" - Hartnett

Consumer Dashboard points to an incrementally softer labor market, weaker... 

... every utterance is just part of a negotiation with the most powerful man in the world, unleashed as never before, his popularity rising from the lows, racing toward midterms.

...the Democrats’ finger-pointing about affordability is designed to avoid the public holding them accountable for causing the problem.

The strikes are part of a continuing bombing campaign in response to a Dec. 13 ISIS attack that killed two U.S. troops and a civilian interpreter...

We have never seen the generation of so many headlines, on so many subjects, so quickly from any world leader, as we’ve seen since the start of this year!

If there were expectations that 2026 might be a less eventful year than 2025, then those have been squarely overturned in the first full trading week...

The security push leans toward bigger deficits and higher yields, undermining the affordability goals and leaving a backdrop that is a headwind on risk appetite...