Business

'Good cop' Mnuchin appeared to play expectations-manager this morning in an interview with FOX's Maria Bartiromo. After confirming the Trump administration is "not touching" entitlement programs, and having said this week that tax reform is expected by August,  he appeared to walk back that hype by saying that President Trump "will be touching on tax reform" during his speech to Congress this week, which Reuters notes, is not an official "State of the Union" address.

Another day, another skirmish between Donald Trump and the "failing" New York Times.

It started early on Saturday morning, when in a tweet Trump slammed the Times' new ad campaign set to air during the Oscars on Sunday night: "For first time the failing @nytimes will take an ad (a bad one) to help save its failing reputation,” the president tweeted."

For first time the failing @nytimes will take an ad (a bad one) to help save its failing reputation. Try reporting accurately & fairly!

Submitted by Wolf Richter of WolfStreet.com

“Flat sales” are now a “welcome change.” The New Normal.

National restaurant data and anecdotal evidence has been piling up. “T Vogel,” a commenter on WOLF STREET, put it this way:

My wife and I make almost 30k more than the median family income in my town (northern CA) with no kids. Our rent just went up by 1k a month – landlord selling – starter houses are selling at 500k.

 

We are not spending a dime more than needed. I plan to skip our weekly night eating out now.

By EconMatters

We discuss the Gold Market, the 10-Year Bond Market, and the US Dollar Index in this market video going into the FOMC Meeting in three weeks. Is March a Live FOMC Meeting?

https://www.youtube.com/watch?v=-WYQp9yflmg

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It has now become a weekly ritual: Goldman warns the market is overvalued and poised for a selloff, market proceeds to ramp to new all time highs.