Oil prices remain elevated while AI financing costs squeeze from both sides, the "anchor of asset pricing" falls back to around 5%! How will the market price the AI bull run as Warsh "refuses to spoil the plot"?

Although Kevin Warsh has refused to "pre-announce the monetary policy path and final answers" since formally taking office as Federal Reserve Chair in MayWarsh has consistently declined to provide any forward guidance since taking the helm of the Fed and has refused to reveal any monetary policy path in his speechesthe market is still actively looking for any suggestive wording in public remarks by other Fed officials, as well as in all Fed-related developments such as the Fed's monetary policy statements and the Beige Book.