The Warsh Fed Will Look Nothing Like Before | Joseph Wang

A new Fed chair has arrived, and the implications could be far bigger than a single rate decision.

Joseph Wang, former Fed trader and creator of Fed Guy, joins Forward Guidance immediately after Kevin Warsh’s first FOMC meeting to unpack what may be the beginning of a fundamental transformation of the Federal Reserve.

We discuss Warsh’s hawkish debut, the end of the forward guidance era, sweeping Fed task forces, potential changes to the inflation framework, AI and productivity, and why all of this could point to a meaningful repricing of risk assets. Enjoy!

TIMESTAMPS:

00:00 Intro

02:22 Warsh Kills Forward Guidance

05:57 Markets Price The Warsh Fed

11:19 The New Fed Task Forces

17:10 Impact On Rate Volatility

19:12 Warsh’s Balance Sheet Fight

23:13 Rethinking Fed Data

27:46 Weighing AI Productivity

31:52 Rethinking Inflation Target

36:17 Warsh’s Hawkish Market Signal

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DISCLAIMER

Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only. Any views expressed are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.