Today is Jerome Powell's 1st day as Fed Chairman. In 1987 Greenspan took office just as exploding budget and trade deficits were sending the dollar down and bond yields up. An over-valued stock market crashed 2 months later. I wonder if Powell's honeymoon will last that long?

Today is Jerome Powell's 1st day as Fed Chairman. In 1987 Greenspan took office just as exploding budget and trade deficits were sending the dollar down and bond yields up. An over-valued stock market crashed 2 months later. I wonder if Powell's honeymoon will last that long?

— Peter Schiff (@PeterSchiff) February 5, 2018