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Here are the five big takeaways from Kevin Warsh's first meeting as Fed chairman
Key takeaways
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- Markets didn't like it, with major averages swooning after the meeting and as Warsh spoke in his news conference.
- "Today we believe that the Federal Reserve's FOMC ushered in a new era of monetary policy in the United States." — Rick Rieder, head of fixed income at BlackRock.
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The Federal Reserve and Chairman Kevin Warsh on Wednesday followed the script on interest rates closely, voting to keep the benchmark level steady, but dropped several surprises that kept markets guessing about where things are heading. Markets didn't like it, with major averages swooning after the meeting and as Warsh spoke in his news conference.
"Today we believe that the Federal Reserve's FOMC ushered in a new era of monetary policy in the United States." — Rick Rieder, head of fixed income at BlackRock.
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