Warsh's First Fed Week Starts With a Hike Tail, Not a Cut Mandate
Warsh has the chair, but oil, yields and Powell still have the room.
Economy
Oil and Yields Are the Common Denominator for Warsh, Cerebras and SpaceX
Oil turned rate expectations into a valuation event for AI, IPOs and the Fed.
The Bond Market Already Tightened Before Warsh Held a Meeting
Warsh has not held his first meeting, but the bond market has already tightened for him.
Gas-Tax Relief Is Still the Household Hormuz Admission
If the strait premium is abstract, the gas-tax fix is not.
Brent Keeps the IEA October Clock Alive
The oil price is still carrying the supply calendar inside it.
Powell Still Has a Vote While Warsh Gets the Title
The chair changed, but the vote count did not become ceremonial.