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Jackson Hole Hangover: Warsh Goes Hawkish and Trump's Venezuela Oil Deal
Not sure about you, but I got a Jackson Hole hangover this morning. I was also up late watching the Phillies making another dramatic comeback in Anaheim. Anyway, September rate-hike odds jumped from around 35% to nearly 57%, and short-term yields and the dollar strengthened. My own view is that he still isn't in a position to hike in September, but it does not change my investing strategy or portfolio construction. I also make the case that raising rates by .25% doesn't do shit for supply-driven inflation (as of today at least).
We also touch on Trump's announced deal giving the US majority…
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