In this week’s LPL Market Signals, Chief Fixed Income Strategist Lawrence Gillum and Chief Economist Jeffrey Roach break down the first Federal Reserve meeting under new Chair Kevin Warsh, highlighting a more hawkish-than-expected stance, streamlined communication, and the introduction of new task forces focused on inflation, data, and AI. The discussion also reflects on the legacy of Alan Greenspan following his passing, noting his lasting influence on Fed policy and communication. The episode concludes with updated economic projections, including elevated inflation expectations, potential fourth-quarter disinflation, and key risks tied to geopolitics, growth, and labor markets.<br><br>Tracking: #1129177

Shock, Awe, and a Hawkish Turn: The First Warsh Fed Meeting | LPL Market Signals

LPL Research

Hello and welcome to this week's edition of LPL Market Signals. Lawrence Gillum, Chief Fixed Income Strategist on the LPL Research Team, and I'm the host this week. Last week ushered in the beginning of the Kevin Warsh-led Fed. Warsh, who is the 17th Chair of the Federal Reserve, but only the 11th in the modern banking era, started his tenure off strong. We had some drama, some intrigue, and some surprises, which tend to be a good recipe for daytime soap operas, but not so sure about an FOMC meeting.

But to help unpack the major takeaways from last week's Fed meeting and to discuss our updated economic projections, I'm joined by LPL's Chief Economist, Dr. Jeffrey Roach. Jeff, how are you today, sir? Hey, Lawrence. Thank you. That's a very well said intro with drama, intrigue, excitement. This was certainly something that's historic, I think, and that's not hyperbole.

Absolutely. Although we do have another announcement to make in terms of a previous Fed chair. If you want to mention that, that might be appropriate today. Yeah. So unfortunately, we do have some sober news as we record this on Monday, June 22nd. The maestro, Alan Greenspan, has passed away at 100 years young. So I think for a lot of us in this industry, we started during his tenure.

So Alan Greenspan was the head of the Federal Reserve from 1987 to 2006. So if you started your career in this industry, any time between those two time periods, you are certainly familiar with Alan Greenspan. So maybe some thoughts broadly, Jeff, on Alan Greenspan.

Shock, Awe, and a Hawkish Turn: The First Warsh Fed Meeting | LPL Market Signals

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Shock, Awe, and a Hawkish Turn: The First Warsh Fed Meeting | LPL Market Signals

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.