CHF/JPY

Gregory Daco, chief economist at EY-Parthenon, says he thinks the Federal Reserve won't move on interests rates for the rest of this year. Daco talks about what he wants to see from the new Chairman Kevin Warsh. Daco speaks on "Bloomberg Surveillance."

We’re back to reading tea leaves! Hooray! Next week the Federal Reserve will have its second meeting since Kevin Warsh officially took the helm. And, at this point, the outcome is far from certain, which is unusual given that ever since Ben Bernanke instituted “forward guidance” the market usually knew what to expect. Warsh does not think “forward guidance” ...

The producer prices of industrial products were 1.8% higher in June 2026 than in June 2025. The Federal Statistical Office (Destatis) also reports that producer prices in June 2026 were down 0.3% on May 2026.The increase in producer prices compared with the same month of the previous year was primarily due to higher prices of intermediate goods (+5.1%). The ...

F/m Investments’ Washington, D.C., office is just a short drive from the Federal Reserve’s headquarters. But under the central bank’s new leadership, CEO Alexander Morris has found the distance feeling far greater. Fed Chairman Kevin Warsh embarked on an overhaul of the central bank’s forward-looking communication since taking the post in May. That move ...

China's economy has some big problems. Here are just some of the recent data points that should worry global markets: China's Q2-2026 GDP came in at 4.3% - well below its 5% annual target and the lowest in 3.5 years1. Births fell to 7.92 million in 2025 - down 17% from 20242 - and the lowest count since records began in 1949. New home prices fell 3.3% ...

Over the past several years, Wall Street and Washington, D.C., have grown used to being able to reliably predict what the Federal Reserve would do at its interest-rate meeting, weeks before the gathering took place. But now we're in a new era. Instead of guiding the market toward the likely outcome of the upcoming meeting, the new Fed chair, Kevin Warsh, ...

This is an unusual time for markets, with a reasonable debate for both sides on whether the next move by central banks will be to hike or cut interest rates. Certainly, markets are leaning to at least one hike by the Fed and perhaps half of one by the Bank of Canada by the end of 2026, but there’s not much conviction. All it would take to wash away those ...

A Hudson Bay Capital think piece by Roubini and Miran is normally a five-alarm macro bin fire, except their latest also has the highly respected Peter Ireland as co-author. The paper, A return to monetarism?, reads very much like something Peter would write and nothing at all like anything Roubini or Miran have produced before. But if Peter has brought them ...

Markets are pricing in at least one more interest-rate increase from the U.S. Federal Reserve this year following hotter inflation data and a more hawkish tone from policymakers. Consumer prices rose 3.5% in the year through June, less than markets expected and a slowdown from 4.2% in May, which was the highest annual increase in three years. Meanwhile, new ...

This morning has brought news on an issue that is usually apart from on here hidden in the shadows. In the Covid pandemic period central banks became Lords of all they surveyed in government bond markets. Along the way they became very popular in establishment circles as these purchases drove bond yields lower and allowed governments to borrow very cheaply ...