USD rates
Forward guidance is gone
As widely expected, the FOMC kept the target range for the federal funds rate unchanged and dropped its easing bias.
Research
Rate cuts are moving further into the future
At Kevin Warsh’s first meeting as Chair, the FOMC is likely to remove the easing bias from the statement and drop the 2026 rate cut from the dot plot.
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Regime change at the Fed
Kevin Warsh is expected to be sworn in as the new Fed Chair today, relieving Jerome Powell from his duty as Chair pro tempore.
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Global Daily: Back to the Well
Hormuz diary, day 79. The strait remains functionally closed and global crude and refined product stocks are rapidly drawing down...
Newsletter
Governor Powell
As widely expected, the FOMC remained on hold.
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Powell's Farewell Tour
The FOMC is widely expected to remain on hold at the April 28-29 meeting.
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