The drop in yields at the end of 2018 spurred investors such as DoubleLine CEO Jeffrey Gundlach to blame the Fed's balance sheet unwind. No more.
What if economists are so bad at predicting recessions that they’re actually good? What if consistently getting it wrong provides a service?
If he's going to throw away his value-obsessed discipline and buy at 70X, he'd might as well go with the most sizzling momentum assets around, right?
"By the way, that is my position," Kudlow continued. "That has been the president's position. Strong growth doesn't cause higher inflation."