Scanning Wednesday’s inflation print, 26-year old Taylor Gibson shook his head ruefully and lamented, “I knew this would happen.” Inflation, now up above 6% on an annualized basis by some measures, has been on the minds of investors across the country. But in Mr. Gibson’s view, not enough in the mind of Fed Chair Jerome Powell. “That guy is an idiot,” declared the third-year trader, “Jerome just doesn’t understand inflation.”
Gibson went on to outline his understanding of macro-economics gained over the past three years, including how the only inflationary period in his life was unique, “you don’t just have a demand increase, you also have supply constraints at the same time.” The Colombia graduate wasn’t sure why Powell didn’t understand this intricacy, but suggested it was due to his background, “At the end of the day, Powell’s never been a trader, just an academic.” Gibson added, “that’s how you really learn. Any of us could have seen this coming,” he emphasized about a print which caused a significant shift to BEI pricing. When asked if this meant he was reliably able to beat BEI markets through time, Gibson demurred, “I wouldn’t necessarily say so. But my 12-month track record would.”
