George Gammon i don't know about all of that. I just know we are rolling $7t+ a year in govt debt. And foreign central banks (our one-time creditors) are now net sellers. If the idea is US banks should pick up the $7t in 'slack' who is lending to the private sector? seems like that would

Hawkish Cut today and pause in January - but don't over-read the December Dot Plot! We're heading into a "very... rattled time" to take a firm signal, as no one knows the policy path of the next chair. open.substack.com/pub/kathleenha…

Great, post-FOMC conversation.... Kathleen Talks with Esther George youtu.be/dyWHRNh7ghQ?si… via YouTube

open.substack.com/pub/kathleenha…

Warren says call with Trump discussed ways to lower costs 🤔... youtube.com/shorts/Ol2QLQ_… via YouTube

"Trump's urgings would not really accomplish his objectives and he doesn't understand that." - Prof. Alan Blinder, former Fed Vice Chair. youtu.be/SY2XtF2iXrs?si… via YouTube

Ken Griffin saying it as it is in this interview at WEF. Wall Street is meritocratic. youtu.be/824p3Wt9bMQ?si…

Great preview of today's FOMC and how the FOMC may evlove once the next Chair is in place. youtu.be/tT3US7nQf2s?si…

Don't listen to anyone on Warsh until you have watched this. Lockhart overlaped with Warsh on the FOMC... youtu.be/bE7qJMMFw8Q?si… via YouTube

Here's an excellent 'Crazy as a Fox' interpretation of the Warsh appointment. By appointing a hawk, Trump is ironically securing the very path to lower rates he desires - simply because the bond market won't revolt with Warsh at the helm. open.substack.com/pub/robertbrus…

If Warsh is able to run the gauntlet, here's where the puck is going on QE. (I.e., if you trade commodities, you better watch this.) Ellen Meade is well known in central Bank circles and a prof at Duke University Kathleen Talks with Ellen Meade youtu.be/VyuEQ1PE_Es?si… via YouTube

.Kyla Scanlon absolutely nails where the next "something a little 'Financial Crisis'" is coming from. "They're investing in nasty stuff." Are you?? youtube.com/shorts/tnBQhJG… via YouTube

Chris Waller the clairvoyant forecaster struck again. In his dissent statement. federalreserve.gov/newsevents/spe… “ I have heard in multiple outreach meetings of planned layoffs in 2026. This indicates to me that there is considerable doubt about future employment growth and suggests

So, moving on to CPI on Friday…. Here we weigh in on the cognitive dissonance that is Truflation vs Adobe digital index. One shows inflation crashing < 1%, the other flags inflation at highest in 12 years. Bessent endorsed the former, Wall Street pays a lot of attention to the

I'm curious, is there gender-bias in the statistics or something bigger going on here? Yes, Healthcare and Education drove the gap but (HT: RenMac: Renaissance Macro Research), even Industrials saw a gender gap, +8,000 for women, flat for men. Any thoughts? Anna Wong Michael Green Danielle DiMartino Booth

With the jobs scene benign, and the economy about to be juiced by the first tax return season since the 'Big Beautiful Bill,' Q1 seems to be shaping up pretty well... Bostanjcic Sees Labor Market Turning Corner as "Green Shoots" Broaden Out open.substack.com/pub/kathleenha…

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