As you may have noted the inflation figures missed estimates to the low side with core CPI and PPI across the board coming up light. Inflation from this tight labor market and booming economy is so frightened of the technocrats at the Fed that it has apparently left town, just disappeared, moved to South America.
The Street chose to declare the death of risk and started piling back into equities while selling gold, silver, the US Dollar, and the VIX.
This afternoon the talking heads on financial TV were taken with thoughts of drafting Jamie Dimon for President.
One analyst wondered out loud that after running JPM, no job would be worthy of him and his talents, except the presidency. And my jaw drops to the keyboard.
Where is Andrew Jackson when you really need him?
Have a pleasant evening.
