Trump has basically copied Biden’s economic agenda but with a closed border Overstimulate demand. Beg for rate cuts for no reason but try to lean on the Fed regardless. Gaslight people about inflation. Getting similar results pretty quickly

Power prices and healthcare services (look at insurance profits at decade lows), both of which are big inflation weights, are going to be absolutely vertical for the next 2 years Inflation just not going away. In fact it’s going up And we just talk about cuts

There’s already a $500K exemption How many more tax cuts can one country do for rich boomers? The answer: always more

Honestly how did a party with this aura drop the ball this hard Just pump the 90s nostalgia. Stay out of the way of markets and the Fed. Close the border. Completely ignore ROW. No one cares Non stop vibes maxing, America winning, bashing the woke mob. We could of had it all

Funny how this is the exact same shape as home prices to income ratios Almost like they are related

This is the most bearish green day I’ve ever seen

2 year inflation expectations now over 3% Trying to imagine what it’s going to feel like when we start running above 3% again In a normal world the Fed would be hawking it up majorly and pushing back hard on risk assets. But we do not live in a normal world anymore

Big Fed bashing out of Bessent today

This is so silly. He knows mortgage rates will go up if you cut rates with inflation going up How are we back to overheating the economy and trying to gaslight people about it? That’s what Biden and Yellen did and it ended with a massive defeat. It’s just bad policy

Such a missed opportunity by Trump admin to not create incentives to convert office to resi. It’s a CRE handout: how can he not get behind that? But would be a productive way to improve housing supply @ezraklein & @DKThomp maybe you can convince Gavin N to do it