Respectable but low nominal growth forever unless positive monetary reform

Week ending Friday 10th February 2017 A quiet weak until Trump promised a “phenomenal” tax package. Stocks rose a good 0.5%. Stocks rose again on Friday led by financials as the scourge of the banks at the Fed, Governor Tarullo announced he was stepping down in April. He was the unofficial governor responsible for financial regulation, Obama having neglected or been unable to appoint one that would pass Congress despite being mandated to under the Dodd-Frank rules. USD rallies as other currencies weaken Reflecting the weak noise from the FOMC except one of the regional Fed Presidents, Harker, and little…

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