US Federal Reserve

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)...

With the fate of Fed's balance sheet suddenly under Wall Street's spotlight, following last week's hints by several Fed presidents that a runoff in the balance sheet may be on the horizon and prompting various sellside analysts to share their thoughts.

Before starting this article, I want to stress the following:

I HATE politics.

However, in todays’ highly politicized world, you cannot ignore some moves.

On that note, on Tuesday night, President-Elect Donald Trump stated in an interview with the WSJ that the “USD was too strong.”

Less than 24 hours later, Fed Chair Janet Yellen, openly defied Trump, talking up the $USD and claiming the Fed was worried about inflation and needed to hike interest rates.

THIS IS ASTOUNDING.

European shares decline led by a plunge in Pearson shares, S&P futures were modestly in the green as Asian and EM stocks gained. The dollar rebounded against most major currencies after retreating 1.3% on Tuesday to the lowest in a month following Trump's "strong dollar" comments and halted a seven-day drop against the yen.

Submitted by Nick Giambruno via InternationalMan.com,

History books remember Herbert Hoover as one of the worst American presidents.

Hoover, a Republican, was a rich and successful businessman with investments all over the world. He was also somewhat of an outsider, having never held elected office until he was inaugurated in March 1929.

Today, people associate him with massive infrastructure projects like the Hoover Dam, as well as the Mexican repatriation program, which deported over 500,000 illegal Mexican immigrants.