Labor

Trump's crackdown on Obamacare is accelerating.

Just over 7 hours after his inauguration, late on Friday, the president signed an executive order concerning the 2010 healthcare law, telling reporters the action was meant "to ease the burden of Obamacare as we transition from repeal and replace" and urging U.S. agencies to "waive, defer, grant exemptions from, or delay the implementation" of provisions deemed to impose fiscal burdens on states, companies or individuals.

Some observations on recent negative trends in productivity, employment mismatch, and labor training and education from the increasingly more bearish David Rosenberg, who notes that the Trump's proposed policies may end up helping growth on the margins, but fail to focus on what is really important, making tens of millions of US workers competitive and qualified for today's jobs market.

From Breakast with Rosie, via Gluskin Sheff

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,