Fed Chair Kevin Warsh talks a big game, but this market indicator will tell you if Wall Street trusts him after he caused a ‘credibility shock’

First publishedAug 1, 20:27 UTC

Last updatedAug 4, 11:43 UTC · 6m ago

120:27–22:34 UTC1 outletFortune

20:2712:1604:0519:5411:43

Fortune6Fed Chair Kevin Warsh talks a big game, but this market indicator will tell you if Wall Street trusts him after he caused a ‘credibility shock’Aug 1, 20:27 UTCOpen ↗

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Federal Reserve Chairman Kevin Warsh has been talking a big game for months about fighting inflation, but failure to signal an intention to follow through soon has Wall Street questioning his commitment to price stability. Markets didn’t react immediately after the Fed announced no change to rates on Wednesday as investors had largely bet policy would remain steady. Instead, Warsh’s comments during his post-meeting press conference sparked a selloff in Treasuries that sent yields sharply higher. He has vowed “regime change” at the Fed by rolling back so-called forward guidance on where rates are headed and offered no such clues on Wednesday, even talking around no-brainer questions on how to bring down inflation.

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  Fed Chair Kevin Warsh talks a big game, but this market indicator will tell you if Wall Street trusts him after he caused a ‘credibility shock’

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  FortuneAug 1, 20:27

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