I got it on good authority it’s oops I
Did It Again have a look at this this is
a 500 bit move in dollar Yen from the
top to the bottom they have intervened
again they spent we understand $ 57
billion this week that is pretty much
what they did in 2022 Adam Posen was
with us this morning from the Peterson
Institute saying look this is like
throwing peanuts at the gallery I’m
paraphrasing go back to 2015 when the
Yuan crashed a trillion dollars was
spent on Intervention to protect that
currency unilateral intervention in of
itself he says will not work when it
comes to the FED also Peterson Institute
Adam Posen says they’ll never do what
they’ve promised to do 2024 and 2025 in
rates get used to a much higher regime
even though Powell put a distance
between himself and Hikes he shouldn’t
have done that he should have been more
balanced and Paton uh this is the news
flow 15% of the jobs are to go at Paton
retail space is to close and the CEO is
to go