Trump’s Regrettables

(1) Kashkari’s plea. (2) What’s the rush to raise interest rates? (3) Slower GDP growth ahead in response to recent rate hikes. (4) Regional surveys mostly show inflation topping. (5) Trump probably regrets not reappointing Yellen. (6) Did Powell really say that? (7) New Fed vice chairman is yet another fan of r-star who admits it’s unobservable. Says rates still accommodative. (8) What is normal? What is neutral? What is the meaning of life? (9) Yield curve has flattened, so why does FOMC still estimate NAIRU at 4.5%? Why not 3.7%? (10) Fed’s Beige Book still has plenty of green. (11) Movie review: “Beautiful Boy” (+).