There are a few things I think most people can agree on, like:
• Powell’s the only adult in the room;
• Without him, Trump wants to do to the U.S. what Erdogan did to Turkey;
• Trump’s planning to fire Powell before his term ends;
• If he can’t pull it off before then, he’ll get to put a ‘yes man’ in his place by May 2026;
• So basically, if not sooner, by May 2026 Trump will have the chance to wreck the U.S. economy.
Since markets are supposed to be forward-looking, how come this isn’t already priced in?