Show notes
The Fed spent the better part of a decade talking too much. On Wednesday, Kevin Warsh signaled that era is over. His first press conference as Fed Chairman didn't just announce a rate hold. It announced a philosophy — one that's fundamentally different from anything we've seen in the Powell era: Forward guidance: goneWarsh's own dot plot projection: withheld entirelyFive task forces launched to rebuild the Fed from first principlesThe market sold off. That's not surprising — markets have been...
