The Fed Just Changed the Rules — What Warsh’s First FOMC Means for U.S. Stocks
Not a Rate Shock — A Regime Shift
Markets entered this week asking a simple question:
Would Kevin Warsh’s first FOMC meeting be hawkish?
The answer is more complex than a simple yes or no.
Warsh did not raise rates.
He did not explicitly signal an imminent hike.
But he may have done something more important.
He may have changed how markets understand the Federal Reserve itself.
This was not ju…