Warsh ushers in a new era of interest rate governance. Yielding to the Trump administration appears plausible at this point of the game. Lets watch the market reaction this Friday
V
Jackson Hole: 10 AM ET – Warsh's Words Could Move Markets.
PCE at 3.7% beat expectations unexpectedly, pushing the probability of no rate hike in September from 35% to 66%. Since Walsh took office, forward guidance has been scrapped and the dot plot abolished...