I dislike the credulous tone of this post. Trump no longer deserves benefit of the doubt - it's been clear for 6 months that he's willing to misuse the DOJ to get what he wants, whether it's childish "revenge" (mostly against people that were just doing their job in the first place) or in this case to get a power he doesn't and shouldn't have. That alone should be enough to impeach, but since the GOP obviously isn't prepared to fulfill its Constitutional responsibilities, Trump will be allowed to keep using the DOJ like his personal attack lawyers. Even if all of this weren't sleazy and unconstitutional, it's a stunningly bad idea to give Trump even second-hand influence over the Fed. I wouldn't have given that influence to any President in my lifetime, and certainly not to Trump, who will happily goose the market with low rates without even a thought for inflation or the future, because the guy can't think past tomorrow. Remember when Republicans used to think inflation was theft? Man, the party has gone downhill fast.
Yes… after all else fails using your DOJ against political opponents is something the democrats would never do🙄. They might be too busy.., say… cultivating $9bil in fraudulent payments(in one state mind you) to buy votes from Somalians and other “highly ethical” activities like that… to involve themselves in anything underhanded.
So happy we’ve got people like the nappy wearing “big guy” to keep things “above board”.
Ps. Trumps inflation is currently lower than Bidens by multiples and, much like the Tariff screeching, there’s no indication that what he wants to do with interest rates will bring inflation back to anywhere near what was seen while that particular president was taking payments from Ukraine & China.
Partisan nonsense. No one has ever politicized the US government like this and no one should ever be okay with it - once the slide into "s***hole country" begins, it's likely hard to stop. By "Trumps inflation", you mean "The Fed's inflation" and yes - the Fed has bee doing a great job for years with the exception of misjudging the very unusual and unique conditions post-COVID. I'm not here to defend the Democrats either, but their corruption at least stays within a standard deviation or two of the mean - Trump's is off the charts and every freedom-loving American should despise him for it.
Classic Trump. Discredit anyone you don't like by accusing them of anything, and create an "official" inquiry to create the appearance of validity. He did this with Senators, Judges, and really anyone who has a different viewpoint. Does anyone actually believe the Propaganda?
Pomp used to be, in my opinion, incredibly grounded and would look at things from all angles. There is nothing wrong with leaning one political way or the other - as long as one stays grounded in awareness. Thats why I originally paid for this substack.
Over the last year I have seen Pomp lose complete sight of a middle ground - if there ever was one.
Pomp - this is coming from someone who doesn’t identify with a political party. Are you that blind these days? Your blog posts make it sound like you are living in a silo.
I'm not sure if you misinterpreted my message, but the point I was making was that over the years, Pomp has always come across as very grounded, and articles would be written incorporating multiple points of view.
That's obviously valuable to people who are actually trying to learn something or come to an understanding. I don't care about someone's political affiliation, but do if someone's political affiliation stands in the way of discovering the truth. Maybe that's not important to you.
I've never been called a female liberal before, considering I am male, libertarian, lift weights, eat red meat, and don't support that party - but hey, it's "us vs them" right? ....
Trump has time and again used government agencies to attack his enemies and the best analysis you can come up with is, "why is Powell deflecting?". What was originally a stack focused on Bitcoin and its broader market implications, has turned into another bootlicking, propaganda spewing device for the Trump administration.
powell posting a reply within minutes of the news prompted you to deduce he leaked it ? wow - you heard this new conspiracy theory first right here folks.
could it perhaps be that the fed was tipped to the upcoming doj news and prepared in the event it went public ....... does that sound a bit more rational perhaps ..... or has all sense of rational escaped our discourse these days.
In relation to "One of the problems here is that the Federal Reserve is using taxpayer money to make these renovations. This is objectively insane." - this is incorrect. The Federal Reserve is not funded by taxpayer money in the usual sense that federal agencies receive Congressional appropriations. Love your work though, maybe reconsider backing Trump too much. He talks a good game but his tariffs are a joke and he's turning the US into a Banana Republic
The perspective describing how the Fed, 420 highly compensated PhDs, charged with 2 mandates - manage inflation and employment - failing at both for 35-40 years, being rewarded with a palatial upgrade? Definitely a question worth asking.
What have they gotten right and can that answer be supported?
Seeing the comments on this post, it’s clear that the vast majority see this for what it is…more theatre and bullying from the most corrupt administration in the 250 year history of our country. Trump has made a fortune with these tactics over decades and now he’s pulling the same shit on the US and the whole planet for that matter. America first my ass!
This is a useful reminder that institutional credibility is a market variable. When the central bank’s leadership gets pulled into legal/political conflict, the signal is less about one renovation and more about perceived independence and governance risk. That uncertainty can tighten financial conditions at the margin—and it’s exactly why markets can stay choppy even without a clean macro “shock.”
I dislike the credulous tone of this post. Trump no longer deserves benefit of the doubt - it's been clear for 6 months that he's willing to misuse the DOJ to get what he wants, whether it's childish "revenge" (mostly against people that were just doing their job in the first place) or in this case to get a power he doesn't and shouldn't have. That alone should be enough to impeach, but since the GOP obviously isn't prepared to fulfill its Constitutional responsibilities, Trump will be allowed to keep using the DOJ like his personal attack lawyers. Even if all of this weren't sleazy and unconstitutional, it's a stunningly bad idea to give Trump even second-hand influence over the Fed. I wouldn't have given that influence to any President in my lifetime, and certainly not to Trump, who will happily goose the market with low rates without even a thought for inflation or the future, because the guy can't think past tomorrow. Remember when Republicans used to think inflation was theft? Man, the party has gone downhill fast.
Bitcoin doesn't seem to be as nervous as Gold on this news.
Yes… after all else fails using your DOJ against political opponents is something the democrats would never do🙄. They might be too busy.., say… cultivating $9bil in fraudulent payments(in one state mind you) to buy votes from Somalians and other “highly ethical” activities like that… to involve themselves in anything underhanded.
So happy we’ve got people like the nappy wearing “big guy” to keep things “above board”.
Ps. Trumps inflation is currently lower than Bidens by multiples and, much like the Tariff screeching, there’s no indication that what he wants to do with interest rates will bring inflation back to anywhere near what was seen while that particular president was taking payments from Ukraine & China.
So put ya big boy pants on and wait and see
Partisan nonsense. No one has ever politicized the US government like this and no one should ever be okay with it - once the slide into "s***hole country" begins, it's likely hard to stop. By "Trumps inflation", you mean "The Fed's inflation" and yes - the Fed has bee doing a great job for years with the exception of misjudging the very unusual and unique conditions post-COVID. I'm not here to defend the Democrats either, but their corruption at least stays within a standard deviation or two of the mean - Trump's is off the charts and every freedom-loving American should despise him for it.
Classic Trump. Discredit anyone you don't like by accusing them of anything, and create an "official" inquiry to create the appearance of validity. He did this with Senators, Judges, and really anyone who has a different viewpoint. Does anyone actually believe the Propaganda?
Pomp used to be, in my opinion, incredibly grounded and would look at things from all angles. There is nothing wrong with leaning one political way or the other - as long as one stays grounded in awareness. Thats why I originally paid for this substack.
Over the last year I have seen Pomp lose complete sight of a middle ground - if there ever was one.
Pomp - this is coming from someone who doesn’t identify with a political party. Are you that blind these days? Your blog posts make it sound like you are living in a silo.
So much for “freedom”
Translation… Pomp’s writing is no longer within the boundaries of my politics so I’m gonna throw a hissy fit, white liberal female style!!
Therapy is my suggestion
I'm not sure if you misinterpreted my message, but the point I was making was that over the years, Pomp has always come across as very grounded, and articles would be written incorporating multiple points of view.
That's obviously valuable to people who are actually trying to learn something or come to an understanding. I don't care about someone's political affiliation, but do if someone's political affiliation stands in the way of discovering the truth. Maybe that's not important to you.
I've never been called a female liberal before, considering I am male, libertarian, lift weights, eat red meat, and don't support that party - but hey, it's "us vs them" right? ....
Trump has time and again used government agencies to attack his enemies and the best analysis you can come up with is, "why is Powell deflecting?". What was originally a stack focused on Bitcoin and its broader market implications, has turned into another bootlicking, propaganda spewing device for the Trump administration.
Very disappointed with your bias, even if I generally appreciate your work (especially with Jordi on Saturdays).
powell posting a reply within minutes of the news prompted you to deduce he leaked it ? wow - you heard this new conspiracy theory first right here folks.
could it perhaps be that the fed was tipped to the upcoming doj news and prepared in the event it went public ....... does that sound a bit more rational perhaps ..... or has all sense of rational escaped our discourse these days.
In relation to "One of the problems here is that the Federal Reserve is using taxpayer money to make these renovations. This is objectively insane." - this is incorrect. The Federal Reserve is not funded by taxpayer money in the usual sense that federal agencies receive Congressional appropriations. Love your work though, maybe reconsider backing Trump too much. He talks a good game but his tariffs are a joke and he's turning the US into a Banana Republic
Funny how it went from "facts don't care about your feelings" to "this lie feeds the narrative" in the span of one presidential term.
I know right? Oh well, at least the DOGE & Tariff Rebate checks are coming soon... :)
The perspective describing how the Fed, 420 highly compensated PhDs, charged with 2 mandates - manage inflation and employment - failing at both for 35-40 years, being rewarded with a palatial upgrade? Definitely a question worth asking.
What have they gotten right and can that answer be supported?
Have they earned anything they are receiving?!
Seeing the comments on this post, it’s clear that the vast majority see this for what it is…more theatre and bullying from the most corrupt administration in the 250 year history of our country. Trump has made a fortune with these tactics over decades and now he’s pulling the same shit on the US and the whole planet for that matter. America first my ass!
Imagine the outrage if the project was being funded by “donations” from banks and other financial folks.
This is a useful reminder that institutional credibility is a market variable. When the central bank’s leadership gets pulled into legal/political conflict, the signal is less about one renovation and more about perceived independence and governance risk. That uncertainty can tighten financial conditions at the margin—and it’s exactly why markets can stay choppy even without a clean macro “shock.”
My stock strategy for this week
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