Episode Details

The Fed holds rates steady but signals a major shift: nearly half its policymakers now support rate hikes this year, up from zero just months ago. With inflation at three-year highs and job growth strong, the new chair Kevin Warsh is pushing for a hawkish stance to hit the 2% target — even as it risks political fallout and higher borrowing costs before elections. Markets reacted with falling stocks and rising bond yields, while Warsh also vows to overhaul how the Fed operates for greater clarity and focus.

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