Macro Matters: BE’s Anna Wong on Warsh and Fed Communication

Kevin Warsh’s new communications approach may be creating more uncertainty for markets, not less. Anna Wong, Bloomberg Economics chief US economist, joins Ira Jersey, Bloomberg Intelligence chief US interest-rate strategist, on this Macro Matters edition of the FICC Focus podcast. Wong discusses why Warsh’s latest press conference appeared to contribute to the selloff in long-dated Treasuries, how his reluctance to provide a clear policy framework raised questions about the Fed’s commitment to its inflation target and what changes could emerge from the central bank’s communications task force. They also examine whether the Fed could adopt Bank of England-style explanations of individual dissents, publish scenario analyses and reduce its reliance on the dot plot. Wong explains why she expects softer inflation and labor-market data to keep the Fed on hold for the rest of 2026, and how the recent rise in real yields could slow housing, industrial production and broader financial conditions. The Macro Matters podcast is part of BI’s FICC Focus series.