Markets & Mayhem(@Mayhem4Markets):I'm not really kidding. He's the least impressive Fed Chair since Yellen, and Yellen was the worst I'd ever seen at the time. Warsh is stuck between a boss that wants cuts and an economic backdrop of persistent inflation that warrants hikes. He doesn't seem to have the backbone to do much about the latter, despite making the case repeatedly. Almost as if he thinks he can just jawbone sticky inflation away. But talk is cheap and the market is doing what he's unwilling to do by pushing rates up on its own. The longer he ignores that signal and refuses to act, the less that the bond market will give him any credibility.

2026.08.28 14:46

I'm not really kidding. He's the least impressive Fed Chair since Yellen, and Yellen was the worst I'd ever seen at the time. Warsh is stuck between a boss that wants cuts and an economic backdrop of persistent inflation that warrants hikes. He doesn't seem to have the backbone to do much about the latter, despite making the case repeatedly. Almost as if he thinks he can just jawbone sticky inflation away. But talk is cheap and the market is doing what he's unwilling to do by pushing rates up on its own. The longer he ignores that signal and refuses to act, the less that the bond market will give him any credibility.

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