Warsh at the Controls: Other Forces Also Driving Rates
May 29, 2026
President Trump has finally got his preferred Fed Chair – at a moment when markets are increasingly uncertain about the likelihood of any interest rate cuts this year, let alone the deep cuts that the President has been calling for since he took office. Good news as well as bad news explains the shift in expectations. A push and pull between AI hopes and geopolitical fears is defining market moves.