Wash's debut this week encountered a "hellish start": the bond market priced in a rate hike in advance, and Trump called for a rate cut.

The Financial and Economic Intelligence App learned that Kevin Warsh, the new chairman of the Federal Reserve, who has only been in office for three weeks, is about to have the most dramatic and risky power debut of his career and even in modern central bank history. In the early hours of June 18th Beijing time, this new head of the Federal Reserve will preside over his first Federal Open Market Committee (FOMC) meeting since taking office, and hold his first policy press conference. The meeting is expected to maintain the federal fund rate target range at 3.50% to 3.75%, but with inflation returning to 4%, the market beginning to price in a rate hike by the end of the year, Trump continuing to pressure for a rate cut, and the FOMC experiencing its most serious internal divide in nearly 34 years, the decision to "stand still" itself is not as important as the signal Warsh will send.