Warsh's First FOMC: Goodbye Gorward Guidance

Kevin Warsh brings an old, stripped-down Fed style to an information

The question is how markets accustomed to a steady diet of top policy-maker commentary will react

Warsh Drops the Hammer

A U.S.-Iran Hormuz deal gave gold and silver a two-day relief rally to start the week, then Warsh's Fed debut torched it — hawkish hold, higher dot plot, no personal forecast submitted, rate-cut narrative officially dead. Gold slid to its lowest since November, silver cracked below $68, and Friday's holiday-thinned session offered no rescue. Next week, Thursday is the main event: PCE, GDP, durable goods, and jobless claims all land the same morn…

A-Hiking We Will Go? The Warsh Effect - Policy Magazine

Financial markets grappled with two nearly equal and offsetting forces this week: the U.S. and Iran signed a Memorandum of Understanding to halt the conflict,

Kevin Warsh abandons forward guidance and dot plot takes on more restrictive tone

The Corner As expected, central bankers left interest rate policy unchanged and removed the dovish bias from their press release. But there was undoubtedly more to come… The statement is much shorter and focuses solely on price stability. It offers no forward guidance and no longer reveals how members voted on the decision. However, the real surprise in terms of its hawkish tone lay in the dot plot. Nine of the 18...

Warsh's first FOMC: Goodbye gorward guidance

JPM scored Kevin Warsh’s first FOMC as one of the most hawkish events of this cycle — both the statement and the prepared press conference remarks landed clearly on the hawkish side of their hawk-dove index. The tape didn’t show it. The S&P leaked, the Dow held, gold ripped, and oil collapsed. Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more. …