Episode
Signal over Noise: A new Fed framework
- Podcast
- UBS On-Air: Market Moves
- Published
- Jun 22, 2026
- Duration seconds
- 296
- Processing state
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Actions
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Summary
This episode explores the signals in the most consequential Fed debut in nearly two decades: what happened, how markets reacted, and where to go from here. The Fed held rates steady for a fourth consecutive meeting, while Warsh was more hawkish than expected, emphasizing price stability and the Fed’s institutional credibility alongside a shift away from the easing bias. It also examines how he opted for a more concise statement and the decision not to submit a forecast to the Fed’s dot plot.