Wall Street's Lost Faith in Warsh: A Turning Point for Markets and Policy The recent inflation reports have sent shockwaves through financial markets.
The growing consensus is that Kevin Warsh, the new Federal Reserve chairman, will not deliver the interest rate cuts President Trump has been banking on.
As investors price in a future of higher interest rates, it's clear Wall Street has lost faith in Warsh's ability to steer the economy. The Fed Funds Futures market is a key indicator of this shift.