[Warsh's first Fed meeting](https://news.google.com/rss/articles/CBMitgFBVV95cUxMZ1lvRWs3Zlh0azJNaWF6bUV4Z1gxdU5oOTZoNS1IU3JJbzJzcjNwM2xzRkF3Vzk1WkdCOTU0MkVNWHBYVW5hWnhIU1dobWJnMUZvTkE5ay00ZG9JVmNWVVB2T2ZJUzNSZWJRUWt5c2F1WjdwUkgycV9rWFV4NlAzVXAyRm5iYTFOajVoSHBmLVoxdzZaSkpYTXo2MkJwN0ViZUlLbjZmb19qc2JhMUxJRjdvRk9RUQ) signals no rate cuts through 2026 while inflation stays elevated—that's forcing defense ministries to *lock in contracts NOW* before FY2027 budgets get crushed by higher financing cos

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