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Excitement Over Yellen Endorsement

Please click here for a chart of  Nasdaq 100 ETF ().

Note the following:

  • Powell, more than any other person, has been instrumental in running up the stock market with his steadfast conviction of heavy money printing, zero interest rates, and the willingness to let inflation run hot in a departure from historic Fed policies.
  • Powell’s term at the Fed ends in February next year.
  • Investors would like nothing better than Biden renominating Powell.
  • Yellen is very close to Biden.