THE FED IS ABOUT TO CHANGE FOREVER. And almost nobody understands what that actually means for markets. Everyone's debating rate cuts. But the real shift happening right now isn't about rates. It's about the most fundamental change to American monetary policy in a generation. This week, Kevin Warsh sat in front of the Senate Banking Committee. And what he said, and what he refused to say, changes everything about how you should be thinking about 2026. Warsh sat inside the Fed during 2008. He spent 15 years working alongside Stanley Druckenmiller. He's not a Trump puppet. And he made that very clear. But he's also not what the market was pricing in. He told the Senate that inflation is a choice. The Fed must take responsibility for it. The entire communication framework markets built strategies around for 4 years? Gone. No more dot plots. No more hand-holding. No more signalling. And then there's the balance sheet. The Fed currently holds $6.7 trillion in bonds. Warsh has called it a time bomb. If he shrinks it aggressively, long-term rates go UP. So even if short-term rates fall, your mortgage rate might not follow. That's the part the rate cut bulls are not pricing in. In my new video, I break down: - Who Kevin Warsh actually is - His 3 major policy shifts and what they mean for markets - Why the independence question is the real story - And what I'm watching to know when to act [link in comments](Ran Neuner)