FHN Financial Economic Weekly: Friday, July 31, 2026

Kevin Warsh is a very different Fed Chairman than his recent predecessors. Many of the reporters covering him and the FOMC are confused by and, in some cases angry with these changes, portraying Warsh in a fight with the bond market he cannot win. But this week’s meeting, especially the press conference, suggests the Chairman does not see it that way. Warsh is pleased with the recent rise in market interest rates, suggesting the market is already fighting inflation even as the Fed chose to keep the rates it controls unchanged this week.

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