Labor

Following her Trump-weaker-dollar-destroying performance yesterday, Fed chair Janet Yellen reprises her role as Mnuchin-slayer tonight with an appearance at Stanford's Institute for Economic Policy Research. In a speech entitlted "The Economic Outlook and Conduct of Monetary Policy" she is expected to deliver a similarly hawkish tone confirming multiple rate hikes (though no rush) and potentially erasing the dollar weakness from today...

Janet Yellen Live Feed (due to begin at 2000ET)...

Submitted by Nathan Keeble via The Mises Institute,

Submitted by Jonathan Rochford via Narrow Road Capital,

Submitted by Roger Barris via Acting-Man.com,

Blind to Crony Socialism

Whenever a failed CEO is fired with a cushy payoff, the outrage is swift and voluminous.  The liberal press usually misrepresents this as a hypocritical “jobs for the boys” program within the capitalist class.  In reality, the payoffs are almost always contractual obligations, often for deferred compensation, that the companies vigorously try to avoid.  Believe me.  I’ve been on both sides of this kind of dispute (except, of course, for the “failed” bit).

Thousands of Clinton aides and campaign staffers are being forced to leave Washington D.C., move back in with their parents and go on welfare, according to counselors working with the recently unemployed staff. “There’s anger, there’s frustration, there’s anxiety, there’s burnout,” said Russ Finkelstein, a managing director at Clearly Next who has been counseling Clinton campaign staffers. “People are in shock,” said Anastasia Kessler-Dellaccio, 35, who quit her job at Sister Cities International to run Foreign Policy Professionals for Hillary.