Kevin Warsh’s first Fed meeting felt very different from what markets have become used to He refused to say whether he’s spoken with Trump since becoming Fed Chair He refused to give any guidance on future rate decisions He refused to signal the Fed’s next move Inflation is still above target The 2% goal isn’t changing and the Fed says the fight against inflation isn’t over For years, markets were conditioned to expect clues, forecasts, and advance warnings from the Fed And his "good day" just wiped 700B off the stock market Today, that changed The biggest message wasn’t what Warsh said It was what he refused to say Under Powell, the Fed told markets what was coming next Under Warsh, that certainty may be gone Bring back Mr. Powell he was a good guy tbh After hearing kevin warsh.....Does this change mean we’re finally going to cut interest rates?(Justin Wu)