Warsh wants to keep markets guessing. Will it work?
Marketplace
Marketplace
4.6 • 8.6K Ratings
🗓️ 18 June 2026
⏱️ 28 minutes
🧾️ Download transcript
Summary
Kevin Warsh held his first press conference as Fed chair on Wednesday, and — unlike his precedessor — did not say what the central bank plans to do next. Despite his tight lips, markets read between the lines and predict a rate hike is coming soon. In this episode, why Warsh is rewriting the Fed’s communication style, and how it could alter the economy. Plus: Jobless claims tick down a bit, GPS shapes global infrastructure, and RV owners struggle to sell their vintage digs.
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Transcript
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| 0:00.0 | Programming supported by Trinity Exteriors, a local team working to help neighbors across Minnesota maintain safe, comfortable homes, offering roofing, siding, and window renovations. |
| 0:10.1 | Information and more at trinityexteriors.com. |
| 0:15.2 | The economy is changing at a dizzying rate. |
| 0:18.8 | Entered the chart topping and critically acclaimed managing the |
| 0:22.1 | Future of Work Podcasts from Harvard Business School, hosted by me, Bill Kerr, and by managing |
| 0:27.9 | the Future of Work Project co-chair Joe Fuller. The show explores workforce development, |
| 0:33.6 | technology trends, demographic changes, and many other forces transforming the landscape of work. |
| 0:40.0 | Follow the HBS Managing the Future of Work podcast wherever you get your podcast. |
| 0:47.7 | Coming up on the program today, we'll talk about the geopolitics of this economy. |
| 0:52.9 | We'll talk about the risks and rewards of GPS. And we'll talk about the geopolitics of this economy. We'll talk about the risks and rewards of GPS. |
| 0:56.4 | And we'll talk about the RV market as economic indicator. |
| 1:00.8 | From American public media, this is Marketplace. |
| 1:10.2 | In London, In Los Angeles, I'm Kyle Riznell. |
| 1:16.6 | It is Thursday. |
| 1:18.0 | Today, this one is the 18th of June. |
| 1:20.4 | Good as it always is to have you along, everybody. |
| 1:23.7 | You know, sometimes there's just a lot of economic loose ends out there waiting to be tied up. So that is what we're going to do to get going today, and we're going to do it with Robin Brooks. He's a senior fellow at the Brookings Institution. Welcome back to the program, Robin. Good to have you on. Hey, Kai. Thanks for having me. So, let's see. There is an agreement to begin negotiations in pursuit of a deal in the Middle East. |
| 1:45.7 | And thus, I want to start today with you. And oil, Brent, is at $79 a barrel, just a hair under 80 bucks. |
| 1:54.2 | But the straight is still closed. It is going to take some time for things to get back to normal. |
| 1:59.3 | Crystal ball this for me, would you, |
| 2:01.2 | what happens with oil markets? You're an oil guy. So let me say two things. I think one thing |
| 2:08.4 | that's really, really important about this shock that we've kind of learned is, you know, |
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