Warsh cutting rate decisions to six a year and retreating from forward guidance is a vol regime change for the $32T Treasury market. Isaac Wheeler of Derivative Path says this Fed has no interest in b

What happened: Fed Chairman Kevin Warsh plans to cut rate decisions to six a year from eight, with the remaining meetings reserved for strategy talks. He is also retreating from forward guidance. Key numbers: The Treasury market is $32 trillion. Decisions would fall to seven next year. Why it matters: Traders say fewer decisions and less guidance could mean larger rate moves, more emergency action between meetings, and more volatility in short-dated notes, while policy uncertainty may lift longer-term rates.

Warsh's forward silence risks amplifying Treasury market volatility.

Warsh's forward silence risks amplifying Treasury market volatility. — impact context not separately stored; see What changed.