"From Orderly Selloff, To Panic": Stocks, Bonds Plunge As Oil, Dollar Soar On Iran War

Watch Live: Kevin Warsh's First Press Conference As Fed Chair Warsh's first press conference as Fed Chair is likely to be the most important event risk of the meeting. With The Fed leaving rates unchanged as practically 100% expected (with no dissents), and a very hawkish signal sent from the 'Dots', the question on everyone's lips is simple: "What Will Warsh Do?" (WWWD?) Will he shift to a cautiously hawkish path citing a resilient labor market, higher growth and soaring inflation... ...or will he reiterate the current easing bias as support for the lower...

Flurry Of Reports Signal 'Breakthrough' In US, Iran Getting Back To The Table In Pakistan, As Third US Carrier Arrives After signaling all day yesterday that it has not decided to engage the United States in a second round of peace talks, Friday morning has seen a flurry of headlines out of Saudi and regional media speculating that today is different. "Iranian Foreign Minister Abbas Araghchi may arrive tonight accompanied by a small delegation," Pakistani government source has told Al Arabiya's correspondent. Also Bloomberg too is reporting that Iran's FM Araghchi...

Forward Guidance Is Gone By Philip Marey, senior US strategist at Rabobank Summary As widely expected, the FOMC kept the target range for the federal funds rate unchanged and dropped its easing bias. However, this unanimous decision was announced in an unusually short statement. What’s more, at his first press conference as Fed Chair Kevin Warsh terminated forward guidance. However, the Summary of Economic Projections had already revealed that half of the FOMC participants (who submitted a forecast) expected to hike before the end of the year. Warsh did not submit his...