The Institutional Risk Analyst

As expected, the Federal Open Market Committee took no action on interest rates in a 10-2 vote. Warsh gave a rambling statement at the Fed’s October 28 press conference and announced that the FOMC would hold fewer policy related meetings in 2027 and 2028. Warsh is apparently making the same mistake as Paul Volker in 1980, delaying actions to fight inflation to serve the political needs of the White House.