As Kevin Warsh takes over the U.S. Federal Reserve, bond investors are betting he’ll prioritize inflation fighting. Read more.

Some observers expect Kevin Warsh to be more dovish than predecessor Jerome Powell, but resurgent inflation could change that. Read more.

Warsh's AI-driven easing thesis meets a bond market running on structural deficits and depleted reserves, setting up the most consequential yield curve trade of 2026.