Hard-rock Republicans are intensifying pressure in a distasteful spectacle on Jerome Powell, Chair of the Federal Reserve, to leave Washington for good. The White House wants a review of the decision to renovate the Fed building, and a congresswoman said the Justice Department should investigate if Powell lied to Congress, immediately pushing the CBOE Skew Index, a reliable gauge of tail risk, higher. In order to avoid more theatrics and unnecessary market turmoil, Powell at a conference on bank regulation, correctly avoided making any public exculpatory remarks to clear himself from charges of fault or guilt and calmly dodged comments on interest rates…
A Macro Market View by Hubert Marleau
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