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Kevin Hassett outside the White House in Washington, on July 30.
Photographer: Jim Lo Scalzo/EPA/Bloomberg
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By Geoffrey Morgan and Natalia Kniazhevich
August 1, 2026 at 9:00 AM EDT
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A relentless run of uncertainty, from war to tariff fights to inflation that refuses to die, has challenged investors this year. Now they have to balance another risk: A Federal Reserve that won’t tell them what it’s thinking.
The issue came to a head this week after Fed Chairman Kevin Warsh finished his press conference without giving any guidance on whether or when the central bank will raise interest rates to combat stubbornly rising prices. It was a particularly curious choice since three of the 12 members on the Federal Reserve Open Market Committee voted for immediate rate hikes. The FOMC is typically unanimous in its decisions or very close to it.
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