Nonconsensus

Nonconsensus

Warsh’s Lazy Hold

If the Fed sits around in wait and see mode on the hikes needed to cool the equity mania and fight persistently above-target inflation, yesterday showed the long end is going to do it for them.

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Bob Elliott
Jul 30, 2026
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Central bankers’ most well worn path in times of heightened uncertainty is to do little. Gathering more evidence always seems to sound prudent relative to making a decisive choice that could be eith…

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