Warsh Turns Hawkish at Jackson Hole: Rate Hike Ahead? 5y/5y Flat, Regime Risk Underpriced Fed Chair Warsh’s Jackson Hole Hawkish Signal: Can The Fed Hike Without Bankrupting the State? Where to begin, that's right. Kevin Warsh is the new Fed Chair. Before he got the job, Kevin Warsh said for years that the Fed talks too much and got sloppy on
Pedal To The Metal? The FOMC held rates at 4.25 - 4.5% as expected. Governors Waller and Bowman dissent in favor of a 25-bps cut. That's the first time since 1993 that two Governors dissented from the policy decision. The Fed lowered its growth outlook, saying that “growth of economic
From Left-Tail to Left Sidelined Markets are scrambling to recalibrate after an unexpected, dramatic rollback from the U.S. and China over the weekend. In a move that exceeded expectations, the U.S. slashed tariffs on Chinese imports from 145% to 30%, while China reciprocated with a drop from 125% to just 10%. Disclaimer: I