Global Daily: Dr Strangecurve

We expect a 25bps rate cut today. However, as the Wall Street Journal puts it, this is “the strangest Fed meeting in years” as “Consequential and contentious debates over the path ahead on rates are playing out under the glare of extraordinary political drama.” Indeed, to project dots, might future Fed meetings look like The Apprentice? Or could it be the War Room from Dr Strangelove? To quote General Clemenceau as quoted in that movie, “War is too important to be left to the generals.” If so, when do we do monetary policy too? “Gentlemen, you can’t set rates in here! This is the FOMC Room!” That development would make the next Fed Chair ‘Dr Strangecurve’… which gold is of course pricing for