Luke Gromen
@LukeGromen
Founder & President, Forest for the Trees (FFTT). Author of "The Mr. X Interviews, Volumes I & II.” I never solicit via DM's. RT not endorsements.
Joined December 2014
2.5K Following 631.4K Followers
Hiking rates to contain 10y yields didn't work...AGAIN.
Fiscal dominance = Fed's only choice remains HOW they want to lose the long end:
Via cutting rates (near-term inflation, medium-term good outcome) or hiking rates (near-term pain, medium-term Argentine inflation outcome.)
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Fed hike = the Fed is trying to tighten financial conditions by giving more interest income to the upper leg of the "K" (Boomers) while simultaneously increasing US govt deficits (via higher interest expense).
That's like screwing to try to get your virginity back.
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