Seems relevant to this thread…
I kind of wonder if the muted response by the markets are because they expect a grown-up will stop Trump from going too far or thinking he’ll chicken out.
As I get older, I’ve noticed that people seem to be dismissive of the big problems as they feel like their over-blown or fizzle out, or because they’ve conflated movies with reality. The 2000 bug was overblown… but billions were spent to prevent it from being the problem it could have been. Acid rain just went away… but we did a whole bunch of stuff to fight it and have managed to reduce its effects. Covid was overblown… millions of people died, and the medical system is still severely disrupted from the after effects. Climate change is overblown… Yet people are struggling from rising food prices, widespread drought, and massive forest fires generating humongous amounts of smoke disrupting enjoyment of summer, and people all over the place are struggling with rapidly rising insurance bills.
I wonder if the same will happen when Trump takes over the Fed. Or does it happen with a whimper that turns into panic when the after effects start happening?