Warshs Hawkish Turn Has Scrambled the Math on Rates

ImageAndrew here.There’s a new phenomenon in the world of investing.

For years, Wall Street firms brought celebrities and athletes into investment funds to attract and entertain their wealthy clients.Now, celebrities are creating their own funds, using their star power and relationships to get into deals — and investors are clamoring to be part of their club.The latest example is Jake Paul, the influencer turned boxer, who just raised a new nine-figure growth-stage fund.

We’ve got more below.ImageA Fed stunner Kevin Warsh’s first meeting as Fed chairman is reverberating through global markets on Thursday.S&P 500 futures are gaining and the price of oil has fallen after President Trump signed a framework U.S.-Iran agreement in France last night.

But investors are also bracing for what seemed unthinkable not long ago: that Warsh, Trump’s pick, would preside over a more hawkish central bank.The latest: Futures traders on Thursday see at least one interest rate increase this year, possibly as early as October.Fed policymakers are moving to that view, too.

(In March, not one Fed official had penciled in a rate increase this year.)Here’s why the math is changing.The war in Iran has sent energy prices soaring, pushing inflation to a three-year high.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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