Helping our clients achieve superior risk-adjusted portfolio performance
is Merk's mission

Yes, I use ChatGPT more than @grok — but only because I often have to ask it 3 times to get a decent answer, while Grok usually nails it on the first try.

— this tweet has been edited by Grok got clarity.
Attached the edit by ChatGPT.
Which variant is better?

Sweden has shed its socialist system, embraced capitalism.
Public social spending has fallen to 24% of GDP (US: 23%), growth outpaces rest of Europe, the wealthy have returned as wealth & estate taxes have been abolished. It can be done! 🇸🇪
wsj.com/world/europe/t… @TomFairless

Fed's Chris Waller suggests regional Fed President need to centralize operations to gain efficiency, lists HR as example.
@JohnHCochrane: the Soviets were really good at centralizing! And how about centralizing HR at Stanford, Princeton and alike -- and include @HooverInst's HR?!

Fed's Waller: I've said I propose centralizing back office functions, have the regional Feds focus on their specialties. I got pushback that it's at odds with the federated system. Technology drives us to rethink how to gain efficiencies while preserving independence.

Fed's Waller: starts by trashing Goolsbee's model -- anticipated productivity will be associated with higher borrowing costs if 'everyone' scrambles to invest, acting as a dampener.

Chicago Fed's Austan Goolsbee: the productivity again in the 1990s was not clear in the data. Greenspan imputed it based on other data and held back raising rates. It was only clear with hindsight.

San Francisco Fed's Mary Daly: "in a shock, how do you know whether it's temporary or persistent?
[...]
I'm trying not to use the word 'transitory', but you know what it refers to" 🤷‍♂️