No promise for September, but no betrayal. And a strategy doc that abandons policies already abandoned.
Donald L. Luskin
The "Mar-a-Lago Accord" has Already Happened
Friday, August 15, 2025
Japan will "invest" half its US Treasuries in a US SWF. We get 90% of the profit. That's default.
Miran: We Warned You, and We're Warning You Again
Friday, August 8, 2025
The three sweetest words: “As we predicted.” We would rather have been wrong.
Jerome Powell’s Double Standard About Taxes and Inflation
Wednesday, August 6, 2025
The Fed chairman fixates on the possible effects of tariffs but has said nothing about other tax hikes.
On the July Jobs Report
Friday, August 1, 2025
Suddenly Powell is looking “too late,” and two rate cuts this year are very much back in play.
On the July FOMC
Wednesday, July 30, 2025
The committee was dovish. The chair was hawkish. The chair is just one guy.
What is the Tariff Endgame?
Monday, July 21, 2025
After the Supreme Court, tariffs will be high, but markets will think they are low. Trump wins.
On the June Jobs Report
Thursday, July 3, 2025
A surge in government hiring masks a miss and the third month of immigration in reverse.
Stocks at New Highs as Trump Turns the Fed – and Our Hot Take on This Morning’s Supreme Court Ruling
Friday, June 27, 2025
The case against the tariffs will proceed. Meanwhile, dovishness is breaking out all over.
On the June FOMC
Wednesday, June 18, 2025
The hallucinations continue. Inflation has collapsed, but the Fed sees more of it.