Play Money

All I can do is keep thinking, in equal measures of hope and despair, “Three more years … Three more years …”

US Secretary of Treasury Scott Bessent shows a proposed $250 bill featuring President Donald Trump during a press briefing in the Brady Briefing Room of the White House in Washington, DC. KENT NISHIMURA/AFP via Getty Images

Bessent and Hassett. What a pair. They both have the same obsequious, sh*t-eating grin.

On Fox News, Hassett was, as usual, boasting about how great the economy is, when he was asked why Americans aren’t feeling it — why the long-running Michigan index of consumer sentiment has hit its lowest level ever. He responded by claiming that the index “is being driven by Democrats who have Trump derangement syndrome.”

https://paulkrugman.substack.com/p/whos-deranged-exactly

Brain Warshed

New Fed Chair Kevin Warsh suggests he may take an Alan Greenspan-style approach at the central bank

https://finance.yahoo.com/economy/policy/article/new-fed-chair-kevin-warsh-suggests-he-may-take-an-alan-greenspan-style-approach-at-the-central-bank-135046787.html

As Fed chairman, Powell wasn’t all that different from Greenspan in his favoring of banking deregulation. As I covered five long years ago.

Warren Warring With Powell