With Trump openly pushing for 1% rates at today’s inflation and jobs levels, the setup is getting interesting. If AI and ML keep boosting productivity, deflation isn’t off the table this year. That would give the Fed serious room to ease especially with a new Fed Chair likely coming in.

In a QE/ZIRP-style environment, money supply growth matters more than ever. One name I’m watching closely is Circle (USDC issuer). It’s basically a leveraged bet on monetary expansion. Down ~70% from post-IPO hype and mostly forgotten, but if liquidity floods the system again, their model could scale insanely fast. Curious what others are watching.