Keep pulling the thread on Kevin Warsh.
Higher energy prices, a driver of inflation, are a direct result of the U.S. war in Iran.
Federal Reserve Governor Chris Waller supports communicating that the central bank's next interest rate move is as likely to be an increase as it is a cut.
There is a significant market expectation, reflected in trading, that the Federal Reserve's next interest rate move will be a hike.
Yields on 2-year and 5-year U.S. Treasury notes increased by 75 basis points over the last two months.
Yields on 10-year U.S. Treasury notes increased by 65 basis points over the last two months.
Buying conditions for financed durable goods in the United States are deteriorating materially.
President Donald Trump stated that Kevin Warsh, as Federal Reserve Chair, would curtail the practice of issuing forward guidance.
Kevin Warsh is believed to want to eliminate the Federal Reserve's use of the "dot plot" and the Summary of Economic Projections (SEP).
It is predicted that the Federal Reserve's June dot plot will be difficult to explain if most FOMC members remove their forecasts for interest rate cuts in the current year.
A common misconception on Wall Street is that the median of the Federal Reserve's dot plot represents an official Fed forecast, when it is actually a collection of 19 individual forecasts.
The initial purpose of the Federal Reserve's dot plot and Summary of Economic Projections (SEP) was to signal no intention of future rate hikes, thereby flattening the yield curve through communications.
The narrative on Wall Street is that the Federal Reserve is "behind the curve" because its Summary of Economic Projections is only updated four times a year while markets recalibrate constantly.