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All right, fine.

We'll tell you what Kevin Warsh is thinking, but it's going to take more than five words from American public media.

This is Marketplace.

In Los Angeles, I'm Kai Rizdahl. It is Wednesday, today the very first day of July. It is always to have you along, everybody.

We begin in Centra, Portugal, not far from the capital of Lisbon, but a bit out of the way, perhaps, to be the center of global central banking.

That, nonetheless, is where Federal Reserve Chairman Kevin Warsh and his international colleagues found themselves today for a regular confab on the

state of the economic world. Warsh at one point was asked about the risks that he sees out there

right now. I'm not prepared to sort of make a broad comment denoting risks that are available in the system, but I will say this.

This is the biggest time of consequence to each of our economies, I think, in our lifetime.

The global financial crisis of 2008 would like a word, but worse cited AI, persistent inflation, geopolitical dyspepsia,

and the low, higher, low-fire labor market as some of the things he is keeping an eye on.

At his first press conference a couple of weeks ago, War said he's also keeping an eye on Wall Street,

and that is where we're going to spend the first couple of minutes of the program.

Financial market prices are probably the most important source of information to guide central

bankers. So that was a couple of weeks ago. The relationship between the central bank and the

financial markets can be tricky. The Fed doesn't want everybody to think it's worried about

asset prices in the lingo.

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