Karishma Vanjani

There are a few wildcards ahead of Warsh's first post-FOMC news conference as Fed chairman: The balance sheet isn't one of them. Warsh has expressed his desire to reduce the size of the Fed's balance sheet. It isn't a radical idea, but one that requires careful planning, calibrations, and discussio

Warsh takes the podium in just over an hour from now and he must be careful when rehashing his past narratives. The Fed chairman has made an argument that there is an artificial-intelligence productivity revolution in place—meaning AI can lower labor costs for businesses while boosting output. At h

In its much shorter statement, the Fed made a reference to its balance sheet. The Federal Open Market Committee "reaffirmed its policy of maintaining ample reserves in the banking system."The central bank's April statement didn't include such a reference.IPlainly speaking, committee members are

Bonds are in the driver's seat as Kevin Warsh chairs his Fed meeting. Look at the yield or interest rate on the 2-year note, which is up strongly by 0.097 percentage points. Higher yields on a shorter-dated note suggest the bond market is readying to see a rate hike by the Fed sometime this year.

Warsh, in one brief line, set the tone for the Fed going forward: A central bank that has "a wide lens but a narrow remit." In plain English, that means Warsh doesn't want the Fed to venture into places that isn't the responsibility of the world's most powerful central bank—but he does want the Fed

The loudest feedback on Kevin Warsh's first press conference as Fed chairman came from the bond market. Just look at the Treasury yield curve. U.S. debt maturing in 10-years now yields only 0.7663 percentage points more than debt maturing in 2 years. That’s the lowest since April 2, 2025, according

Stocks and bond prices were higher on Thursday morning, after President Donald Trump on Wednesday signed a memorandum of understanding between the U.S. and Iran that increases the likelihood of releasing more oil supply from the Persian Gulf. The Dow Jones Industrial Average gained 0.8%, or 419 poi

The three major U.S. indexes kicked off Thursday ready to recoup their prior day losses. Now, their early gains have tempered. The Dow was up 200 points, or 0.4%, half of what it gained at the market open. The S&P 500 was up 0.8%, while the Nasdaq Composite was up 1%.It was unclear what caused th

The S&P 500 energy sector is on track to be the worst performing sector of the index for the day and week. Popular energy ETF State Street Energy Select Sector SPDR is down 2.1% for the day and over 7% for the week. "Full reopening of Hormuz may bring Brent prices to $82/bbl this year, from $93 prior, setting a $70-80 range for most of" the second half of 2026, wrote BofA Global Research.

A laggard has made a comeback. A popular fund capturing the performance of long-duration Treasuries, the iShares 20+ Year Treasury Bond exchange-traded fund, is on track to end the week up 1.3%. The fund officially started delivering positive returns for the year on June 11.