Colby Smith(@colbyLsmith):NEW: The Fed is in the business of "performance," Warsh said after holding rates steady. It did not take long for markets to signal they were unhappy with his. Warsh's approach involved tough talk on inflation but stopped short of embracing the prospects of higher rates, which many believe are necessary to address it. That sparked a backlash, one that could prove difficult to resolve without a shift in how Warsh communicates

Colby Smith

@colbyLsmith

@nytimes correspondent writing about the Federal Reserve and the US economy. Previously @FT, @TheEconomist, @BloombergTV. colby.smith@nytimes.com

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Colby Smith@colbyLsmith

2026.07.30 11:19

NEW: The Fed is in the business of "performance," Warsh said after holding rates steady. It did not take long for markets to signal they were unhappy with his. Warsh's approach involved tough talk on inflation but stopped short of embracing the prospects of higher rates, which many believe are necessary to address it. That sparked a backlash, one that could prove difficult to resolve without a shift in how Warsh communicates