Fedspeak

Kevin Warsh says he wants to "survey a billion prices," yet has embraced a trimmed mean measure (conveniently the most dovish signal) which asymmetrically throws out 55% of the basket and leans on lagging housing components. Symmetric, market-based ex-housing variants show upside inflation risk.

A light week of Fedspeak. We heard from Powell this week, who dodged a question about a July cut.

An eventful week of Fedspeak changes many of our views of where Committee members are.

In the days after the FOMC press conference, we have a couple of speakers talking about the possibility that they may need to move to protect the labor market.

Note: Subscribers to MacroSuite will receive our FOMC preview a week early, at the beginning of the blackout period before each FOMC meeting. What To Expect: The Fed has signaled a hold on interest rates not just in June, but throughout the summer. With risks to the inflation trajectory on

It’s just a waiting game for the inflation data to show the effect of tariffs or the labor market starts to show signs of breaking.

A light week of Fedspeak, but a few notable pieces from some of the Committee.

There's still a lot of speculation around the effects of tariffs in this week's Fedspeak, but they're still waiting for the data. The uncertainty around other policies is also encouraging them to stay noncommital on rate movements.