"Jay Powell reminds me of a junior trader; every day the market is up they turn bullish and every day the market is down they turn bearish.’
What the Fed really ought to be doing is purging itself of all the stupid bonds they bought during quantitative easing, which was stupid, Fisher says.
Kudlow also on Thursday noted that the bond market's yield curve is upside down, but that does not mean a recession is on the way.
Paying dollars directly into the banking system now and taking yen back pays 3.7% for a one-week placement. The banks need cash. What could go wrong?
It is his belief that somebody like Elizabeth Warren in the White House would be disastrous for the stock market.