ZTrader Macro & AI Notes

ZTrader Macro & AI Notes

The Bad Transparency: How the Fed Is Becoming Trump’s Fed

Kevin Warsh walked into his first FOMC meeting as chairman and did something no recent predecessor would have risked.

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Dorian
Aug 14, 2026
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Kevin Warsh walked into his first FOMC meeting as chairman and did something no recent predecessor would have risked.

Warsh took away the FED’s map.

There is no forward guidance nor soft implicit target.

Just, in his words, a “good family fight” where the committee’s next move stays undecided until the room decides it. Markets read this as transparency.…

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