I've talked a lot about the disaster of the Fed under Janet Yellen. And it became clear that finally the pieces were in place--with a Republican president and Republican Congress--to get meaningful fiscal stimulus done. If they continue on their path, borrowing costs will have popped substantially before fiscal stimulus gets out of the gate, which could smother a pop in growth. My bet is that Trump gets rid of Yellen and maybe Kashkari becomes the new Chair. The last thing the Trump administration wants is a Fed that works against its growth policies but that's what they are getting.

Source: Forbes March 24, 2017 01:30 UTC