What if the bond market has outgrown the Fed?
Kevin Warsh doesn't want the market slavishly paying attention to the Fed; looking at what's happening in the the bond market, it may already be obliging him.
Bank Notes
Forget jobs or inflation, credit is what matters. And credit is…
When banks start reporting earnings next week, keep a close eye on what they say about credit growth.
Who would you give your money to, hyperscalers or the U.S. government?
There are two monster debtors out there — the AI industry and the U.S. government. Is the credit market big enough for the both of them?
The problems in the July jobs report are bigger than one report
The July jobs report was bad, but the context is worse: people leaving the labor force, stubborn inflation and rising bond yields.
Bankers want reforms at the Fed, but which ones?
Bankers largely agree that there should be reforms, but don't agree on which ones; plus, our second batch of best-performing banks.
Kevin Warsh steps into the octagon
The new Fed chair takes his seat for the first time but may find it was easier to be an outside critic than inside leader.
