ties in with YYZ and Promethean’s point

https://x.com/DrJStrategy/status/2094053368905728225

and my own observations on Warsh and the Keynesian Fed (hat tip Griffin)

“Kevin Warsh correctly attacked the Fed’s “hall of mirrors,” markets trade on Fed signals, and the Fed mistakes those reactions for economic information. But the deeper problem is the Keynesian debt model itself, deficits drive issuance, bond markets demand higher long term yields, and officials intervene to suppress them. “