It was a relatively quiet week on the tariff front. Last Friday night we had more tariff exemptions, followed by promises (or threats) of sectoral tariffs. But since then, the chatter has become all about the deals. Ok, there is the talk about firing Fed Chair Powell, but away from that, on the economic front, we seemed to have switched from the tariff phase to the deal phase. I do not think firing Powell would be a good thing over time. It would be a step towards reducing (or eliminating) the Fed’s independence. I don’t always agree with their policy. ... Dealpalooza