08/31/2026
The mainstream financial press is obsessed with every syllable out of new Fed Chairman Kevin Warsh’s mouth, but they are completely silent on the out-of-control federal spending that is actually holding your mortgage rates hostage. Every single year, the mainstream financial media packs its bags, grabs its fleece vests, and heads to the scenic mountains of Jackson Hole, Wyoming, to engage in their favorite ritual: reading central banker tea leaves.
This year’s circus is especially intense as the spotlight shines on the newly appointed Federal Reserve Chairman, Kevin Warsh. The press is hanging on his every breath, parsing whether his warnings about stubbornly elevated inflation mean another rate hike is brewing. We even saw a mysterious trader dump a jaw-dropping $912 million into the market just hours before Warsh took the stage, desperately trying to front-run his remarks. It is a high-drama spectacle that makes for great cable news segments, but it completely misses the real crisis.
