Episode

RenMac Off-Script: State of the Fed Disunion

Podcast: RenMac
Published: Jul 2, 2026
Duration seconds: 2338
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Canonical source: https://podcasters.spotify.com/pod/show/renmac-it/episodes/RenMac-Off-Script-State-of-the-Fed-Disunion-e3lj4eu
Audio: https://anchor.fm/s/10928cc60/podcast/play/122310558/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-6-2%2F427254536-44100-2-5025bf7a3aac7.mp3
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Summary

RenMac is joined by banking and payments veteran Howard Mason and digs into a soft payroll report, Chair Warsh's price-stability regime shift, and firming real rates. The team questions how the Fed actually delivers on price stability while hawks fill the vacuum, and turns to a market cycle clock stuck in its worst zone, thinning semiconductor leadership, embers of private credit stress, the yen carry trade and the oil-and-gas round trip.