WH NEC advisor Kevin Hassett is on the wires saying:Says "of course" when asked about confidence in Fed Chair WarshWarsh job is now easier following the day's inflation dateHasset says Warsh is a realist.Says Warsh is serious about getting inflation back to target 2%Warch will to what the data says he should doThis administration will not do reckless spending seen in the Biden administration. Is there a bubble. No. AI companies are making money. The yield curve is steepening with the 2 year down -1 basis pointat 4.225% and the 10 year up 4.7 basis points at 4.667%. The 30 year is up 6.9 basis points at 5.213%. Higher long-term Treasury yields raise borrowing costs across the economy because they influence rates on:30-year mortgagesCorporate bondsAuto loansCommercial real estate financingState and local government borrowingAs those borrowing costs rise:Housing activity tends to slow.Businesses become more selective about capital spending.Consumers may postpone large purchases.Government interest expense increases, worsening budget deficits.In effect, the bond market tightens financial conditions, even if the Fed does nothing. That is the plan for Warsh in getting inflation lower. Let the game be played (data and impact). Stop focusing on the referree (the Fed). This article was written by Greg Michalowski at investinglive.com.