Anybody Buying Yet? Where’s the Bottom?

[SAJ-99]

After his remarks, the dollar hit a 4 year low.

Dontcha wonder if people in his administration don't sometimes say "why can't you just shut the #$@ up?"

All the time. But the press just keeps sticking a microphone in his face and he loves the attention, so reality TV will continue. The Don is just a mouthpiece. He certainly isn't the "brains" behind anything.

 

[SAJ-99]

Bessent says Trump is FOS and the market was wrong and everything is fine.

'Absolutely not': Bessent shuts down report of potential U.S. currency intervention

Treasury Secretary Scott Bessent shut down reports that the U.S. may step into the currency market.

www.cnbc.com

 

[SAJ-99]

Laughing at myself this morning, this has been the biggest dog (loss percentage) in my portfolio the past few years.......now it's got momentum again.....I might save my $550 investment LOL.

View attachment 389037

Issuing $50,000,000 more common.

 

[jryoung]

Issuing $50,000,000 more common.

 

[Bonasababy]

Looks like we got a good indication of what the market thinks of Warsh on Friday.

 

[SAJ-99]

Looks like we got a good indication of what the market thinks of Warsh on Friday.

S&P futures were down over -1.5% on Sunday night and now up almost a 1%. Buy the dip remains in place, but it certainly wasn't retail buyers. There are not enough market degenerates up at 1am EST to change the trend that much. It's like the market doesn't think about Kevin Warsh at all. The good part is you can have a reaction, while the 2006 reaction was "who the flip is Kevin Warsh?". Also good, pundits can create whatever scenario they want for whatever asset they favor. I'm enjoying all the praise people are giving him. It is almost comical.

The only real takeaway out of the Kevin Warsh pick is that nepotism is the best career plan.

 

[MTGomer]

Can someone explain wtf I missed. Did Jerome Powell get fired?

I expected a huge uproar if that happened but if it did I missed it and now it’s this new guy name the way Oregonians pronounce Wash.

 

[jryoung]

Can someone explain wtf I missed. Did Jerome Powell get fired?

I expected a huge uproar if that happened but if it did I missed it and now it’s this new guy name the way Oregonians pronounce Wash.

His term is expiring, and Trump hasn't liked the actions from the Fed over the past year. Also behind closed doors has probably said the dumbest hire in the history of Fed Chain nominations.

 

[SAJ-99]

Can someone explain wtf I missed. Did Jerome Powell get fired?

No. His term as Head of Fed ends in May. Warsh was named to give the markets a heads up. Stephen Miran temporary appointment ended yesterday, but I guess he stays on until Warsh gets approved as nominations are being held up by some republicans that found their spine after announcing they were not running again. Anyway, then Warsh would get Miran's position and get elevated to Head in May. Then Trump would need to name two to replace Miran and Powell (if he chooses to leave the Fed entirely, which he probably will) positions in May.

 

[brymoore]

No. His term as Head of Fed ends in May. Warsh was named to give the markets a heads up. Stephen Miran temporary appointment ended yesterday, but I guess he stays on until Warsh gets approved as nominations are being held up by some republicans that found their spine after announcing they were not running again. Anyway, then Warsh would get Miran's position and get elevated to Head in May. Then Trump would need to name two to replace Miran and Powell (if he chooses to leave the Fed entirely, which he probably will) positions in May.

I’d run away if I were Powell but he could definitely F with Trump by finishing his term.

WSJ backed Warsh for what it’s worth.