- The markets came close to reaching all-time highs yesterday as China US talks seemingly showed progress.
- The markets point down today on concerns that CPI is moving in the wrong directions, and the Fed will be holding its ground on rate cuts.
- For a great piece on the Federal Debt and the issues that Fed Chairman Powell has some control over and some that he doesn’t, see https://lnkd.in/gZUb5Dx6.
- Powell controls the Fed Funds rate. He doesn’t control the interest rate the US has to pay to buyers of US bonds. This is driven by market dynamics and risk assessments and bond ratings. Ie, when the US bond rating falls and it expands its deficits, the interest rates the US needs to pay borrowers tend to go up.
Recommended Books and Leaders
June 11, 2025
12:32 pm
A business and a performance book that we recommend. Zero to One by Peter Thiel