The Warsh of Wall Street

The rate decision was the non-event everyone expected. The Fed held its benchmark rate steady at 3.50% to 3.75%. The statement and the dots got the immediate market reaction, but the more consequential development was what Warsh announced alongside them: five task forces to overhaul core Fed functions, with a mandate to start from first principles.

The statement came first. The Committee removed the forward-guidance language that had carried an easing bias, and with it the standing dual-mand...

Finish reading this report for free

Enter your email and we'll send the paywall-free report directly to your inbox

Articles Read: 0/2

By continuing, you agree to the Terms of Service and Privacy Policy.

In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time.

Get unlimited access to Tom Lee's Fundstrat research Subscribe
Already a member? Log in

Create a free account to read the full report

You have 0/2 reports available to read for free this month with a free account

By continuing, you agree to the Terms of Service and Privacy Policy.

Already have an account? Sign in
Disclosures (show)

Events

Trending tickers in our research