That was the only good thing Jay Powell said. LOL.
I see Steve Liesman, CNBC, is all grins and smiles. I'm not listening to CNBC. It's on mute while Sophia is on Webex and "at school."
"I have not met with President Biden yet" was on the CNBC crawler. I guess CNBC thought, also, that was the only worthwhile thing Powell had to say.
Before Jay Powell spoke, the Dow was paring back its losses and trending in a good direction, down "only" 350 points.
After Jay Powell spoke, the Dow plunged, dropping almost 600 points, and trending in a bad direction.
I didn't hear his speech but I saw the crawler and it's pretty obvious Powell and I are watching the same movie: the Covid-19 "thing" isn't going away any time soon. And the executive and legislative branches have exactly the wrong ideas on how to respond to the challenge.
As noted earlier, I will post the CDC vaccination rollout numbers on Tuesdays and Fridays. Yesterday's numbers were not particularly encouraging, and I'm a very, very optimistic person by nature.
The ten-year Treasury is down two basis points and barely above 1% -- that's the number that brought on all the hand-wringing two weeks ago.
The Dow is trending toward a thousand-point loss; meanwhile GME is up 130%, up almost 200 points and trading at 339.
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