Data vs. Debate: Will the Bond Market Embrace Warsh’s New Tone (opens in new tab)

Maybe he said it to counter expectations that he would be dovish and follow President Trump’s demands for lower interest rates. Or maybe it was simply a clear‑eyed recognition that inflation has been heating up. Whatever the motivation or strategy, Fed Chair Kevin Warsh, in his public debut on Wednesday, said that “This Committee will deliver price stability,” signaling that a hawkish tilt was possible—perhaps even likely—in the near term.