Ready to Rip
Really loose financial conditions, temporary price-level targeting, closing the GDP gap, setting up for another blowout employment report, bank culture questions
The Case of the Curious Treasury Rally
FOMC Governor Waller in a CNBC interview Friday described the economy as ‘ready to rip’.
Thursday morning’s exceptionally strong April Empire State and Philadelphia Fed manufacturing surveys, March retail sales and weekly jobless claims report were greeted with a sharp drop in longer maturity Treasury yields. Tuesda…