Warsh’s Fed

Kevin Warsh's first Fed meeting as Chair delivered a surprise—and not the dovish one markets were hoping for. While the Fed left rates unchanged, the message was unmistakably hawkish. More importantly, Warsh appears determined to reshape the Federal Reserve itself. From questioning forward guidance and refusing to place a dot on the dot plot, to reviewing the Fed's communication strategy, balance sheet and reliance on traditional economic data, the new Chair is signalling that the Warsh era could look very different from the past two decades! Listen to find out more! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.