The Fed's first meeting under a new hand
Latest Processing Gap
The gap: two of the planet's monetary regimes changed posture in the same fortnight and the discourse barely turned its head — the World Cup outdrew the central banks. The instruments that quietly set the price of the future are operated in a silence the spectacle never penetrates. We watch the ball; the rates move the ground.
Appearances
The FOMC concluded today, its first decision presided over by newly sworn-in Chair Kevin Warsh; across the Atlantic the ECB has just lifted rates for the first time since September 2023, raising its eurozone inflation forecast to 3.0% while cutting growth.
The gap: two of the planet's monetary regimes changed posture in the same fortnight and the discourse barely turned its head — the World Cup outdrew the central banks. The instruments that quietly set the price of the future are operated in a silence the spectacle never penetrates. We watch the ball; the rates move the ground.