Warsh’s diagnosis of the Fed’s problems isn’t that it has interest rates wrong. Rather he believes the institution’s entire way of seeing the world since the financial crisis is wrong. That isn’t fixed, in his mind, by getting interest rates a quarter-point higher or lower. Rather, it is fixed by coming into the Fed and showing to the market and the public that a new sheriff is in town.

My take on the Warsh hearing: Prepare for regime change.

For all the pushback he got from the Senate, there was very little questioning of his core premise that the Fed has failed at its core mission. www.cnbc.com/2026/04/21/k...

@mattpeterson.bsky.social has a full length analysis on this and other main points of the hearing

BMO, Teck, TC Energy CEOs to Advise Carney on US Strategy on New Panel Prime Minister Mark Carney is turning to some of Canada’s most prominent business executives, including Bank of Montreal’s Darryl White, to give him advice on how to handle Canada’s economic relations...

Prime Minister Mark Carney is turning to some of Canada’s most prominent business executives, including Bank of Montreal’s Darryl White, to give him advice on how to handle Canada’s economic relationship with the US www.bloomberg.com/news/article... @bloomberg.com

in this interview, i feel like Waller is more himself now

US-Canada Trade Deal Is Within Reach in 2026, Ontario Envoy Says Ontario’s representative to the US said he’s confident an agreement to resolve trade frictions between Canada and the US is possible in 2026.

Ontario’s representative to the US said he’s confident an agreement to resolve trade frictions between Canada and the US is possible in 2026 www.bloomberg.com/news/article... @melissagshin.bsky.social @bloomberg.com

Analysis: Warsh emerges from a difficult hearing with his Fed 'regime-change' plan intact The Fed chair faced many questions about his finances, but few about his plan to overhaul the central bank.

Analysis: Warsh emerges from a difficult hearing with his Fed 'regime-change' plan intact

You get lower tariffs than you otherwise would be subject to, until such time as those tariffs are raised. Not much of a deal!

If NAFTA is no longer about tariff-free trade, I'm afraid I'm losing the plot.

Live updates: Vance's trip to Pakistan for talks with Iran is on hold, US official says A U.S. official said Vice President JD Vance's trip to Pakistan for talks with Iran is on hold, though President Donald Trump could change his mind. The US-Iran ceasefire expires Wednesday.

Gen. Majid Mousavi, the aerospace chief for the Revolutionary Guard, said “If southern neighbors allow the enemy to use their facilities to attack Iran, they should say goodbye to oil production in the Middle East region,” he said.

AP reports Iran's UN envoy says they have received "some sign" that the US is prepared to stop the blockade, which would be an incredible TACO if true. Maybe not al pastor, but incredible all the same.

oh~ Waller is talking with @davidmwessel.bsky.social today on this sensitive topic!!

finally a true farmer to do a farming episode!!

There are still a handful of tickets for our LIVE Odd Lots show in London on May 7th. Full list of guests will be announced shortly, but I heard a rumor that @lorcanrk.bsky.social will be making an appearance, so get one of the remaining tickets right now. events.bloombergevents.com/event/Odd_Lo...

Kevin Warsh hearing takeaways: Trump Fed chair nominee defends finances, says president never demanded rate cuts Fed chair nominee Kevin Warsh's confirmation hearing before the Senate Banking Committee will bring questions about interest rates and his personal wealth.

I don't like him targeting Miran like this!! 🌚

“Too many Fed officials, past and present, opine in advance about where they think interest rates should be next meeting, next quarter and next year,” Warsh said. “I think that’s quite unhelpful.”

It's just so polite on Lisa Blunt Rochester's part that she didn't press on Warsh saying "I won't fire regional Fed presidents" out loud. Anyhow, we kind of get an answer....right....right?

www.cnbc.com/2026/04/21/k...

Nikita - "Victor, nettoyeur" YouTube video by Freddy Krueger

When I need a plumber, I call Victor.
youtu.be/sTWwvoxOgMA?...

blockade?? in the washroom isn't it?

"pass" or "bypass"?

🤔

Measuring the Impact of Data Centers in the United States Economy: Monetary Damage from Air Pollution and Greenhouse Gas Emissions Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, an...

US data centers consume 5-8% of US electricity generation (!) and generates $25 billion in external environmental costs

www.nber.org/papers/w35100

Market seems like it will be quite tight if talks fail. Given the lack of iranian crude and the russian refinery/terminal hits, and Yanbu under performing.

I think most analysts have the US export volume pretty much near peak

So, aframaxxing / suezmaxxing is to blame

ic 🤔

Have you heard of our Monetary Policy Report?

Four times per year we release our latest thinking on the forces shaping the economy and where it might be headed.

The next report will be released on April 29

👉Learn more: https://bit.ly/48K18Ru

#cdnecon #economy

Trump Says Currency Swap With UAE Is Under Consideration US President Donald Trump said a currency swap with the United Arab Emirates is under consideration, as the Gulf state floats the prospect of financial assistance to weather the fallout from the Iran war.

President Donald Trump said a currency swap with the United Arab Emirates is under consideration, as the US ally floats the prospect of seeking financial assistance to weather the fallout from the Iran war.

"if Americans start reading Will Stancil consumer confidence will rise such that a long blockade becomes tenable."

One of my feelings is that top coaches have hacked the ideal role for FBs as the all-action, perpetually free man. But the physical demands are unsustainable. So you need a superhuman athlete to defy gravity, or PSG's luxury of playing them ~20x a year in league, or triples.

*PAKISTAN IN CONTINUOUS CONTACT W/ IRAN ON CONFIRMING DELEGATION

Basically Pakistan is frantically attempting to get Iran to show up at all. It's getting hard for Trump to spin this as negotiations being on track to prop up financial markets

Did we ever figure out what was up with the declining yanbu loadings?