Monday: Trump Picked Warsh to Fix Rates. Now He's Eyeing a Hike.

Monday, June 29 — Trump launched a war that broke the Fed's rate-cut path, and now he's still demanding cheaper money. Rush and Reagan walk through Kevin Warsh's first FOMC meeting, where rates held at 3.5–3.75% and nine of eighteen officials flipped from projecting a cut to projecting a hike — a full reversal in three months. They trace the 4.2% CPI spike directly to the Strait of Hormuz oil disruption that began February 28th, the day the Iran war launched. They examine whether Warsh's five-task-force reform agenda is genuine central banking or political cover-building. And they perform a mock press conference that satirizes the contradiction of demanding rate cuts while running an inflationary war — then explain why the joke isn't really a joke. Closing out: what Warsh walks into at the July 29th FOMC meeting, with a fragile ceasefire already punctured and October hike odds climbing. If you have a take on whether Warsh survives the political trap, tell us — we're reading responses all week. 📣 We Want to Hear from You! - 📝 Submit a question