Warsh's FOMC voted 12-0, the dot plot says more is coming, and your variable-rate debt is already repricing. Here's what moved and what's next.

Kevin Warsh walked into his second FOMC meeting and came out swinging: a unanimous hike, a firm tone, and a dot plot that says the committee isn't done yet.

The Fed just hiked for the first time in 3 years.

Today on The Open Bell:

The Fed raised interest rates for the first time in three years, and the unanimous 12-0 vote is the part they're not really talking about: there is no dissent, no daylight, and the Fed's own officials are already signalling another hike is probably coming.

China's central bank just quietly scrapped the targets that told its banks how much to lend each year, and if you want to understand where copper prices, shipping costs, and global manufacturing go next, that's where you need to be looking.

If today's episode helped you get a handle on either of these, a five-star rating on Apple Podcasts or Spotify genuinely helps the next listener find us.

New episodes every weekday morning at theopenbell.co

Not investment advice. For informational purposes only.

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Chapters:
00:00 Introduction
00:21 Fed hikes rates to 3.75%-4.00% — first increase since 2023
03:29 PBOC Governor Pan signals shift away from bank loan-growth t
06:32 Closing thoughts

The Fed raised interest rates for the first time in three years, and the unanimous 12-0 vote is the part they're not really talking about: there is no dissent, no daylight, and the Fed's own officials are already signalling another hike is probably coming.

The Fed just hiked for the first time in 3 years.

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