How Warsh Navigates Fed Pressure as Inflation Cools

In this episode of The Macro Memo, Lucas and Luna unpack the pressure mounting on Fed Chair Kevin Warsh as inflation cools to multi-year lows while manufacturing surveys show price worries worse than the pandemic era. With the Fed on hold and the 10-year breakeven at 2.23 percent, they explore the tension between falling headline CPI and sticky core PCE, and what the ADP miss of just 44,000 private jobs means for the labor market. They also examine why bond markets are pricing lower inflation while manufacturing sentiment points to tariff-driven cost pressures. A detailed look at the Fed's communication challenge and the data points that could shift policy before the next FOMC meeting. #KevinWarsh #FederalReserve #Inflation #CorePCE #CPI #Manufacturing #Tariffs #ADP #LaborMarket #MonetaryPolicy #BondMarket #BreakevenInflation #FOMC #Economics #MacroMemo #FexingoBusiness #BusinessPodcast #FedWatch Keep every episode free: buymeacoffee.com/fexingo