- The S&P 500 fell 0.2%, the Nasdaq slipped 0.5%, and the Dow dipped less than 0.1% as investors reassessed the Fed's policy path.
- Warsh said he wants markets to respond more to incoming economic and inflation data than to Fed guidance, keeping policy expectations volatile.
- The 10-year Treasury yield edged up to 4.68% ahead of Warsh's speech as investors weighed higher rates against economic and asset-price risks.
- Marvell Technology fell 7.9% despite beating quarterly expectations and raising its revenue-growth outlook, as analysts said strong AI optimism was already priced into the stock.
Quotes
“Warsh has been adamant so far in his chairmanship that he wants to give financial markets fewer clues about what the Fed plans to do with interest rates to fulfill its job of keeping inflation low and the job market strong.”
“He has said he wants markets to react to what incoming data says about the economy and inflation rather than what the Fed says.”
“its business related to artificial-intelligence technology is strong”