(https://www.marketwatch.com/story/kevin-warsh-plans-to-stop-scripting-the-feds-next-moves-it-could-trigger-a-wild-ride-for-traders-0bb39b9e?mod=mw_rss_topstories). Wall Street's framing this as volatility chaos. I'm reading it as the death of the "Fed put" narrative that's been propping up equity multiples since 2023.

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