The Federal Reserve held its target range at 3.75% to 4%, and Kevin Warsh used the press conference to announce something nobody had asked about. From 2027, one of the Fed’s eight annual meetings will set no rate at all: a strategy session with no vote and no policy statement. He expects two of them in 2028, which would leave six rate decisions a year instead of eight. Warsh also said he does not submit a dot to the Fed’s own rate projections, rejected the idea that the AI investment boom is insulated from interest rates, and said politics played no part six days before the midterms.
Featuring
Kevin Warsh, Chairman, Federal Reserve
Timestamps
0:00 The FOMC holds at 3.75% to 4%
1:02 “We assess the economy by looking out the window”
2:17 Six years of inflation above the committee’s objective
3:56 Energy prices have moved higher again
5:11 The schedule change: A 2027 meeting with no rate vote
6:40 The New York Times: So why not just raise rates today?
10:20 Might the current rate already be the right one?
11:35 Did you send your colleagues out with a message?
12:36 “I don’t submit a dot”
14:01 Is sustaining economic progress a mandate?
15:09 The five task forces, and a field hearing on 16 November
17:57 Newsmax: Trump’s comment about the board
19:04 Does a hold signal a soft inflation target?
21:08 Fox Business: Oil prices and how fast inflation reacts
22:36 The Financial Times: “Interest rates get in the cracks”
25:14 Did the midterms factor into the decision?
26:28 Is there still support around the table for a December hike?
27:43 The balance sheet, and foreign holders of Treasuries
29:58 Did September’s move do what you expected?
31:04 Reuters: Is AI demand now adding to inflation?
33:37 Will the Fed be involved in the Lisa Cook proceedings?
#FederalReserve #KevinWarsh #FOMC #InterestRates #YahooFinance
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