Trump Federal Reserve chair nomination
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Jackson Hole analyst roundup: Warsh speech and Fed hike outlook
Gavekal Research said Warsh's reiteration that short-term interest rates should remain the main instrument of monetary policy implies he will continue to shorten the average duration of the Fed's balance sheet.
Susquehanna said Warsh pledged to return inflation to the 2% target and indicated rates could rise further, strengthening the dollar and reversing part of the debasement trade that had lifted gold roughly 14% in August.
Fed funds futures traders see a 60.4% chance of a quarter-point hike in September, up from around 56% on Friday.
S&P 500 futures flat ahead of Warsh's Jackson Hole address
Marvell Technology slid more than 10% after issuing current-quarter guidance for non-GAAP gross margin that disappointed the Street.
Bill Birmingham is a managing director at REX Financial.
Warsh said the Fed must be confident that underlying inflation is moving to its objective, clearly and at sufficient speed.
Economists want Warsh to share economic views at Jackson Hole
77% of survey respondents believe the Treasury's effort to tamp down bond yields will not be successful.
65% of respondents agree with Warsh that the Fed would benefit from talking less and getting a more unfiltered view of market signals.
Survey respondents were split 48% to 48% on whether the Fed chairman should provide his views on the rate outlook.
“The Administration's efforts to bring down long-term interest rates are spitting into the wind created by the Iran War, massive budget deficits, and confusion over how the Fed will manage monetary policy.”
Syrian Democratic Forces announce dissolution
The agreement with Syria's interim government aims to integrate militia groups into the country's official armed forces.
The dissolution of the Syrian Democratic Forces is part of an agreement with Syria's interim government.
The Syrian Democratic Forces led the fight against ISIL.
New Fed chair faces critical test at Jackson Hole
Treasury Secretary Scott Bessent committed to at least double Washington's purchases of US Treasury bonds.
Trump has called on the Fed to cut rates.
The Fed held interest rates unchanged in July.
“He might even stick to the official subject of the symposium, ‘Financial Innovation: Implications for Payments and Policy’, in which case his speech could be something of a snoozefest.”
Warsh faces Fed independence test as Bessent moves in on central bank's turf
Rick Rieder said there is more firepower in terms of managing the yield curve sitting at the Federal Reserve.
Scott Bessent is the Treasury Secretary.
Yields on the 10-year Treasury note dropped on Wednesday but had unwound most of those gains by Thursday.
“Part of it is signaling here and to show that we believe that the yields don't reflect the underlying fundamentals,”
Kevin Warsh reshapes Federal Reserve operations
Markets sold off after a Warsh press conference on July 29.
Stocks and bonds recovered in the days after the market blowup.
The New York Times first reported the discussion about reducing the number of meetings.
Kevin Warsh names members of Federal Reserve task forces
Warsh said the task forces would start with first principles, ask hard questions, examine current practice, consider alternatives, and propose next steps for policymaker consideration.
William White is a Canadian economist who warned about central bank easy money prior to the 2008 global financial crisis.
Warsh first disclosed his intention to create the task forces last month.
“start with first principles; ask hard questions; examine current practice; consider alternatives; and, ultimately, propose next steps for policymaker consideration.”