In other news ... Powell seems to be itching for a fight with Trump. From Bloomberg: Federal Reserve Chair Jerome Powell plans to attend Wednesday’s Supreme Court hearing over the attempted dismissal of Fed Governor Lisa Cook by President Donald Trump, according to a person familiar with the situation Bessent weighed in: Treasury Secretary Scott Bessent criticized Federal Reserve Chair Jerome Powell over his plans to attend a Supreme Court hearing regarding the president’s attempt to dismiss a central bank governor. “I actually think that’s a mistake, because if you’re trying not to politicize the Fed, for the Fed chair to be sitting there trying to put his thumb on the scale is a real mistake,” --- If nothing else, I read this as a "signal" that Powell will not step down in May as Fed Governor (his term as Chairman ends in May, but his term as Governor ends in 2028).(Jim Bianco)