Show notes:
TMSpotlight:
3.18.24 Inflation Has the "Folsom Prison Blues"
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Hello, I’m Jerome Cash
I hear inflation comin', it's rolling round the bend.
And I ain't seen it tumblin’ since I don't know when.
I’m stuck in Biden’s Prison, inflation draggin' on.
Biden pushes on demand with old-fashioned Democrat economic policies constraining commerce and unrestrained spending. Adding in Yellen’s global minimum corporate tax releases inflation that is beyond transitionary according to repentant Treasury Secretary Janet Yellen.
As a result, Powell will not ease as quickly as the market wants, but he will give it QT relief.
Far from Folsom Prison, That's where Jay wants to stay,
so he’ll blow that QT whistle, Blow our Blues away.
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Song: Folsom Prison Blues (1955)
https://www.youtube.com/watch?v=s_NLlOiD1Wo