Greg Ip @greg_ip · 28 Aug 2026
Warsh's speech IMO clears up a lot of confusion from July FOMC w/substantive review of economy, inflation incl. granular look inside PCE w/o crossing into forward guidance; one can infer a hawkish bias. Market reaction is opposite of July FOMC: 30y down, 2y up. Mkts see tighter
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