Federal Reserve officials left interest rates unchanged, but a fractured vote signaled growing conviction among some policymakers that higher rates are needed to curb resurgent inflation. Jon Ferro, Lisa Abramowicz and Tom Keene host a special edition of “Bloomberg Surveillance” covering the latest news from the Federal Reserve.
Chapters
00:00:00 Bloomberg Surveillance: The Fed Decides
00:03:03 Markets Brace for the Fed
00:04:07 JP Morgan’s Bob Michele on the Fed Outlook
00:10:43 Analysts Debate the Fed’s Next Move
00:26:03 Fed Holds Rates Steady with Three Dissents
00:29:29 Markets React to the Fed Decision
00:30:49 What the Three Dissents Mean
00:33:08 Jim Bianco on September Rate Hike Odds
00:39:22 Focus Shifts to the September Meeting
00:46:08 Is the Neutral Rate Higher?
00:56:37 Chair Kevin Warsh Opening Remarks
01:01:05 AI Investment, CapEx & Inflation Debate
01:04:12 Kevin Warsh on Market Signals & Forward Guidance
01:07:08 Explaining the Three Dissents
01:10:37 Why Hold Rates Despite Higher Market Yields?
01:13:19 Inflation Strategy & Supply Shock Questions
01:18:03 Jackson Hole & the Fed’s Bigger Questions
01:20:04 Kevin Warsh on Policy Transmission & the Dual Mandate
01:24:14 Market Pricing, Surprises & Communication
01:30:15 Bloomberg Questions Warsh’s Inflation Strategy
01:33:05 Task Forces & AI Policy Research
01:39:23 Why Hold a Press Conference?
01:41:19 Panel Reacts to Warsh’s Press Conference
01:47:18 Bond Market Questions Fed Credibility
01:53:12 Was the Press Conference Too Vague?
02:01:03 Higher Yields & the Cost of Capital
02:07:16 What Comes Next Before September?
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Lisa, relax. No need to get so salty just because rates are holding.