Quote · Bloomberg Intelligence
Accenture Forecast Sends Stock Tumbling a Record 20%
Where this was said
Kevin Warsh's Hawkish FOMC Debut
At 18:22 · chapter starts 17:45
Ira Jersey assesses that the FOMC has turned hawkish, with new Fed Chair Kevin Warsh refusing to soften rate-hike signals at his debut press conference. [1] — Ira Jersey "New Fed Chair Kevin Warsh's first press conference made clear the FOMC has turned hawkish, and he deliberately refused to soften that signa…" 17:45 Markets are now pricing contradictory hike-then-cut expectations.
New Fed Chair Kevin Warsh's first press conference made clear the FOMC has turned hawkish, and he deliberately refused to soften that signal. Markets are now pricing rate hikes as soon as next month, combined with cuts — a contradictory combo Ira Jersey says can't both be right.
In 1994, traders received the Fed's balance sheet via fax and had to guess policy direction from data. Today's wall of Fed speak makes that almost mechanical — but Ira Jersey says markets have always tried to anticipate the Fed regardless of how much the Fed communicates.
