Jerome Powell Won’t Get a 2nd Term as Fed Head, Says JPM Economist
The Democrats’ left wing will want a kindred spirit, rather than the GOP-appointed incumbent, Michael Feroli thinks.
Economy
If Governments Can Just Keep Their Cool, the Economy Will Be Fine, Says Savant
The 2020 recession was driven by policy, so any Delta-inspired double dip would be, too, Commonwealth’s McMillan warns.
Big Tech Is Too Expensive? Don’t Believe It, Says Cooperman
The billionaire investor thinks high P/Es now offer a better deal than in the future, when they’ll rise more.
Report: Fat From Funding, Corporate Pensions May Want to Hibernate
Now is a good time for well-funded DB plans to think about a hibernation portfolio, according to NISA.
Why Jeffrey Gundlach Thinks the Dollar Is ‘Doomed’
Federal and US trade deficits will eventually do a number on the greenback, says the Bond King.
Retirement Support Could Be Included in $2 Trillion Infrastructure Bill
House Ways & Means Chairman Neal backs the recommendations of the new Racial Equity Initiative.
Cathie Wood Cuts China Stock Holdings, Leery of Beijing’s Crackdown
The growth stock maven thinks official persecution will squelch valuations, especially of promising tech titans.
Is the 10-Year Yield Telling Us About Inflation or the Economy? Neither, Says Well Fargo
The big dip may be forecasting exactly nothing, because other factors are making it drop, the bank argues.
You Think M&A Is Hot Now? Wait for the Tax Effect, Says Schwarzman
Blackstone chief sees Biden’s planned boost for the capital gains levy as spurring more deals.
‘We Don’t Believe You’: Why Futures Market Is Skeptical of Fed’s Rate Hike Plans
One reason is that spending-happy Washington will need more central bank Treasury buying.
Jerome Powell Has the Worst Fed Day Record for Stocks
S&P 500 returns are mainly negative on day he announces decisions; not so for prior chairs.
Will a Trimmed-Down Biden Program Zap Stocks?
Investors have been expecting further stimulus to keep juicing the markets, economist Lavorgna warns.
Look Out, Dollar: The Yuan Will Keep Surging, Says Ray Dalio
Just a minor player globally, the Chinese currency will expand its use a lot over the next decade, the hedge fund honcho predicts.
Shiller: Today’s Housing Boom Will End, But Slowly
The market won’t collapse all at once, yet the dip still will be painful, economist says.
Pandemic Exacerbating US Wealth Disparity
Mansco Perry, Carlos Rangel, and Tim Recker comment on the widening of the wealth gap creating both risks and opportunities for asset owners.