The farce is now complete.
What is the best way to run schizophrenic monetary policy in a schizophrenic country, where the Fed sees "mysterious" deflation everywhere even as most ordinary consumers can't afford to pay their health insurance, resulting in Fed chair candidates ranging from the extremely hawkish end to the dovish one? Simple: if you are Donald Trump, you bring both of them in.
- TRUMP SAYS BRINGING TAYLOR, POWELL TO FED TOGETHER AN OPTION
Why? Speaking on Fox News Trump "explained" that “It is in my thinking, and I have a couple of others things in my thinking but I like talent and they’re both very talented people."
Which is great news, because if just Taylor is bullish, and just Powell is even more bullish, the two together will send the S&P to 3,000 in a few days.
Of course, two may enter, but if the market ever has an even 1% drop, just one - or none - will leave.
TRUMP SAYS BRINGING TAYLOR, POWELL TO FED TOGETHER AN OPTION— zerohedge (@zerohedge) October 20, 2017
only one leaves pic.twitter.com/k0F8JrPxar
What about Yellen? Isn't she "very talented" too? Well...
- TRUMP SAYS HE LIKES JANET YELLEN `A LOT': FOX BUSINESS
So no... but there is still a chance: if Yellen can get the S&P to close at 2,600 today, she stays.
Odds continue to swing wildly...
Meanwhile, the dollar jump, while Yen and Gold drop.
And while we wait the decision, here is an artist's impression of what the Fed hiring process will look like under Trump.