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Powell: Fed is undergoing a stress test, suggesting its credibility is on the line.
If this is what his 'receding into the background' is all about, it will be interesting.
axios.com/2026/06/01/pow…

"Dubai real estate market is recovering" -- I suppose that's as good a sign as any that the market considers the Iran war in the rear view mirror. Wait, it's a lagging indicator even, showing recovery in April!
mansionglobal.com/articles/dubai…

WSJ: Americans are falling behind on credit cards
The data: Credit card delinquencies coming down

What gives? You tell me, but it appears that WSJ's Dan Frosch looks at longer-term data.
wsj.com/personal-finan…

“Russia…losing.. 35,000 soldiers a month.. untenable without resorting to forced mobilization…If you just mobilize for this war, then you.. send..signal.. you are not.. winning.. there comes…need to escalate in order to justify.. mobilization.”
wsj.com/world/europe/r…

The @FT's version of Reagan's nine most terrifying words in the English language that "I'm from the Government, and I'm here to help"

For Memorial Day, I “upgraded” the flag on the hill adjacent to our property by putting up a larger one.

You’ll also notice the tractor in the background — servicing the flag doubles as clearing and mowing the access road, which also serves as a fire access path.

Warsh, in his first speech as Fed Chair, references Alan Greenspan's contributions -- not those of his successors.

Not coincidentally, I would think, Warsh has been critical of Bernanke's, Yellen's and Powell's policies. He only says he's known 5 of the former Fed Chairs, some