On the theme of "Nothing else matters"... that is, LIQUIDITY 1. Powell has been brow-beaten out of his rate-hiking hawkish stance 2. There is a chart around which shows "Central Banks Once Again Buying Assets" since mid-December. (Have seen it twice, but can't find it just now. I'm sure it will appear again.) "Won't take political considerations into account". -- J. Powell Ha! Heard that one before.
The economy is about to blow up bad! One month ago was 2 more rates and auto pilot... Now it's no more rates and stopping rolling off sheet sooner then later There cutting rates in June guaranteed! The bears win!!! https://www.bloomberg.com/news/arti...says-he-expects-fourth-quarter-gdp-contracted
System Open Market Account Holdings of Domestic Securities https://www.newyorkfed.org/markets/soma/sysopen_accholdings.html
Powell said the same in December.... getting more mileage for the repeat. Market usually doesn't "chew its cabbage twice", but apparently so this time.
Trump would love to see the market making new highs at the 2020 election. If the market/Fed is to "take its medicine", then would be the time for Trump's sake. Can "things" be propped-up to keep the plates spinning for that long??