Warsh took the baton yesterday from outgoing Fed chair Powell (Powell will be staying on for the foreseeable future as a regular board governor).
Bond market investors have taken stock of the inflation situation and concluded that there will be no interest rate cuts in 2026, with doubts even as to their likelihood in the first half of 2027.
In about one month’s time, on June 17, Warsh will be captaining his first Federal Open Market Committee meeting, marking the Fed’s first call on interest rates under his leadership.
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May the odds be ever in your favor. That was the cynical sentiment expressed to those unfortunate souls selected for participation in the “Hunger Games,” the much-read and much-seen saga by author Suzanne Collins. With a 95.83 percent chance
