Top of the Morning: June FOMC meeting recap & macro update
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Following this week’s FOMC meeting - the first led by new Chairman, Kevin Warsh - Andrew drops by to share an assessment of the statement and press conference, along with an outlook for monetary policy. Plus, a health check on the US economy as we look towards the second half of
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4 itemsTop of the Morning: June FOMC meeting recap & macro update
Following the recent FOMC meeting, newly appointed Fed Chairman Kevin Warsh signaled a distinctly hawkish stance, which contrasts with prior expectations of a more neutral approach. Per the full note [source], the removal of the easing bias and the focus on inflation reflects the Fed's commitment to curbing price pressures, marking a shift in tone that's likely to impact market sentiment. The median projection now points towards potential rate hikes as early as 2026, indicating a more aggressive future monetary policy than previously anticipated. Institutional traders should be alert for changes in Treasury yields and broader FX moves as markets adjust to this new narrative.