Again, this isn’t a swipe at your hero, so just settle down. Here’s what I think your god is thinking:
- Interest rates are too high;
- I need someone to obey me;
- Kevin Warsh will obey me;
- He will drop rates
- The economy will soar
- I will get all the credit
- Winning!
Put this in the Bible: this isn’t going to happen. Kevin Warsh is fucked sideways at this point, and he’s going to wish he’d never taken the job. Interest rates ARE going to go up no matter what he does, and the more he has to hold rates (or INCREASES them), the more his supposed boss is going to screech at him, say how disappointed he is, how stupid he is, and so forth.
Warsh is doomed to failed, just as surely as my thriving TLT puts will continue to blossom.
