Kevin Warsh’s First Fed Meeting

 A new chapter begins at the Federal Reserve. In this week’s Master the Markets, host and expert Bill Bodnar breaks down the significance of Kevin Warsh’s first Fed meeting as Chair and why mortgage professionals should be paying close attention.
The backdrop is encouraging. Financial markets and mortgage rates enjoyed a solid week as optimism surrounding the Iran conflict helped drive oil prices down from roughly $120 per barrel just weeks ago to around $85, easing inflation concerns and supporting bonds. That improvement has helped the 10-year Treasury retreat from a recent high near 4.69% back toward 4.50% and below, continuing a trend that Mortgage Market Guide has been watching closely.
Now the focus shifts squarely to the Fed. Markets are waiting to see whether Warsh changes the way the Fed communicates. Will there be a traditional press conference? Updated economic projections? A dot plot? Investors are also eager to hear whether the Fed will emphasize alternative inflation measures such as the Dallas Fed Trimmed Mean PCE, a metric Warsh has discussed favorably in the past.