Powell mentioned several times about inability to fight fiscal idiocy. And now FED's blond Lael Brainard (top dove) will be economic advisor to Biden. If she think's FEDs job is done, what kind of fiscal policy would you expect her to express?

Important context:

-Party of revisions. Jobs, inflation, you name it. BLS head departed since last NFP

-0DTE options suppress VIX (who even approved it?)

-Another 7% SPR drawdown announcement

-10Y climbing with revisions, SPX ignorant.

My contention: SPX will close valuation gap to downside. #Investing #SPX #Inflation