I doubt much of those increases are having much of an effect yet. The increase in yields only happened in Feb and loans roll over at different times, businesses usually set their capital spending annually.Adding 132bps to the 10 year will matter, especially if it sticks around.

The reason fed interest rate hikes hit the economy with long and variable lags is because it takes time for the overnight rate to affect long-term rates and for those rates to affect the economy. It seems early to say the economy has been remarkably resilient in the face of higher yields.

Well stream this interview live on cnbc as well.

it doesn’t replace testing the plane and the parts and simulations and keeping the passengers off till it’s certified. Anyway, if ai crashes the economy, the human race or the planet, it’s too late to bring a liability claim.

Imagine if we regulated aircraft the way it’s proposed we regulate AI: thru the apparent restraint of liability. Fly the planes. If it falls out of the sky, we’ll fix it. And the manufacturers will be motivated to make good planes by fear of liability cases. Sure, it plays a part but

Enormously proud of my son Johnny Liesman who, at 26, has his first book deal. I told him not to go into journalism and that should tell you right there just how smart dad is.

Worth remembering that Treasury Secretary Scott Bessent declined to accredit three news organizations to the G20 meeting because he was angry about their reporting. This is part of a long-running pattern.

Would just like to be clear in banning journalists the President is attacking journalism. It’s not the individual news organizations or reporters who matter. It’s the ability to report on the government how ever they see fit without retribution from the government.

I made a couple badges of honor for my banned colleagues. They should wear them with pride.

But it’s serious because the president crosses a new line by blackmailing the Fed, however stupid his calculus might be.

Non sequitur because the fed doesn’t (or shouldn’t) care who the admin cuts trade with. That’s not a reason to cut rates. And the countries he’s punishing can’t pressure the fed to cut. It’s like “Clean your room or I’ll hit the neighbor’s cat.”

The president’s threat to halt trade with countries with which we have a trade deficit is self-defeating, stupid, and a non sequitur. But it’s also serious. Self defeating because countries with trade deficits recycle dollars into treasuries and reduce US interest rates.

In the parallel universe of right wing conspiracies, firing a promoter of a debunked conspiracy is further evidence of the conspiracy itself.

Congestion pricing helps save lives.

And now we see the problem: tough talk from Warsh strengthens dollar. Weakens yen. Moves other way from what treas wants. So fed/treas now at cross purposes.