[BostonCard]

Dow just spiked up on expectation that Janet Yellen will be nominated for Secretary of the Treasury.  She would be the first woman in the job and would not carry the political baggage of other candidates.

She will definitely be an advocate for stimulus.

Best possible Fed news, as far as I'm concerned.  I don't think she'd even know how to turn the spigot off...

Separately, the Mnuchin/Powell split really concerns me.  I realize Mnuchin will be out in two months, but a lot of damage can be done in two months.

https://www.bloomberg.com/news/articles/...-struggles

And if you expect that Mnuchin's moves can just be reversed as soon as Biden takes over with Yellen as his teasury secretary...

[tweet]https://twitter.com/SalehaMohsin/status/1331329160044810241?s=20[/tweet]

[tweet]https://twitter.com/SenToomey/status/1331223764210683906?s=20[/tweet]

I'm guessing we will hear the word "austerity" a lot in the next four years.

BC

[BostonCard]

Dow just spiked up on expectation that Janet Yellen will be nominated for Secretary of the Treasury.  She would be the first woman in the job and would not carry the political baggage of other candidates.

She will definitely be an advocate for stimulus.

Best possible Fed news, as far as I'm concerned.  I don't think she'd even know how to turn the spigot off...

Separately, the Mnuchin/Powell split really concerns me.  I realize Mnuchin will be out in two months, but a lot of damage can be done in two months.

https://www.bloomberg.com/news/articles/...-struggles

And if you expect that Mnuchin's moves can just be reversed as soon as Biden takes over with Yellen as his teasury secretary...

[tweet]https://twitter.com/SalehaMohsin/status/1331329160044810241?s=20[/tweet]

[tweet]https://twitter.com/SenToomey/status/1331223764210683906?s=20[/tweet]

I'm guessing we will hear the word "austerity" a lot in the next four years.

BC