My best guess re the near future: Warsh and Bessent will push for inflation to be managed with more direct instruments like price controls, freeing the Fed up to be responsive to Trump's demands for lower (or at least not higher) interest rates. From 2029, a Democratic administration 1/3
Martijn Konings
Excellent article. Any speculation on what this means for the Asset Economy?
Despite Bessent's populist rhetoric, I find it hard to believe that a Warsh/Bessent partnership means anything good for working people -- or bad for asset prices.
