M
Macro Analyst
Jul 1, 2026 · bearish
(https://www.marketwatch.com/story/warsh-warns-investors-not-to-expect-hints-at-future-fed-rate-moves-bc945c02?mod=mw_rss_topstories) — he's explicit: stop guessing the Fed's moves, start reading the economic data. For banks, that's a one-two punch. Q2 earnings beat because duration repricing pushed bond valuations higher and masked underlying NIM compression. Now he's telling the market: no safety net, data-dependent, inflation still too high.

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