The Kevin Warsh era is officially underway at the Federal Reserve. Just don’t expect any rate-related fireworks during his first policy meeting as central bank chairman, which concludes Wednesday.
“The Fed is absolutely going to hold rates,” Melissa Cohn, regional vice president of William Raveis Mortgage, says in commentary emailed to Scotsman Guide.
Cohn points out that while Warsh struck a dovish stance in favor of rate cuts prior to being tapped as Fed chair, “he’s going to have a hard time getting a majority of [the Federal Open Market Committee] to agree to cut rates in this current inflationary environment.”
“We just need to wait and see what Warsh’s sentiment will be” during his post-FOMC press conference, Cohn adds, as it could off...