Q is back and Roy breaks down the incoming storm.
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I love Roy but I think too much is being attributed to the whole Kennedy-Powell interaction.
I don’t believe for a minute that Jerome Powell thinks he is not the most powerful man on earth. If you look at what the Fed is doing – "tapering" via rate hikes but at the same time, the Fed balance sheet has begun to expand again – in just the last week.
Surely, this is not the behavior of a man who believes that he – or the Fed – has been replaced in terms of teh financial power that runs the world. Just a thought.
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