January 13, 2021SharePrint
US stocks are modestly higher as investors await details of President-elect Biden’s multi-trillion-dollar stimulus package, further clues if some Fed members are becoming a little bit too optimistic, and ahead of preliminary late-stage trial results for J&J’s COVID vaccine, all while Democrats move forward with impeaching President Trump for the second time. With a deteriorating labor market, stocks will still be supported on expectations the Biden administration will quickly deliver a multi-trillion-dollar stimulus package.
Fed Speak
Risk appetite is also benefiting from more dovish Fed speak. Earlier in the week, Fed’s Barkin was excessively optimistic about the second half of the year and Fed’s Bostic triggered taper tantrum fears after noting that it was possible interest to raise rates in the second half of next year. The latest round of Fed chatter from Rosengren, Bullard, and Brainard, was filled with dovishness that erased some of the ear
set the table for 2024
Junior senator Ted Cruz’s attempt to alter the outcome of the 2020 presidential election is typical of his character and penchant for drawing the national political spotlight to himself.
By continuing to support Trump, Cruz is doing everything he can to endear the rabid Trump supporters and become a household name with all Republicans prior to the 2024 election. In essence, he s campaigning for 2024, using his office and our (Texans’) taxpayer money to do it.
Then, there s Cruz’s buddy, indicted Texas Attorney General Ken Paxton. Paxton’s attempt to challenge the election results of four states was his strategy to endear himself to the Trumpists.
Target: U.S. Congress
Goal: Impeach Donald Trump in the House and convict him in the Senate for inciting violet riot against U.S. Constitution.
President Donald Trump has proven himself to be a danger to society and unfit to be in office. Numerous members of congress have voiced their dismay regarding the violent mob of Trump supporters that besieged the Capitol last night, including prominent Republicans. There is an overwhelming consensus that the events that took place were a direct result of people acting on what Trump had told them to do. For a U.S. president to publicly incite violence against their own democracy and remain in office for any period of time is a horrible offense.