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and WH denies
https://x.com/EricLDaugh/status/1932498988034556273
They floated this to make official what has been developing unofficially recently. The FED and Powell are now pretty much irrelevant. Treasury will be buying back bonds tinkering with various schemes and Powell is now a lame (always has been lame) lame duck. By the time the FED cuts rates in July or Sept. the economy will be in complete disarray. Rate cuts weren’t going to be a panacea but the short term rate should be at least 50 basis points lower and following the economy lower.