Kevin Warsh Sworn In As Fed Chair | Real Yield 5/22/2026

0 May 22, 2026 16:05

"Bloomberg Real Yield" highlights the market-moving news you need to know. Today’s guests: Societe Generale Americas Head of Research Subadra Rajappa, Franklin Templeton Fixed Income CIO Sonal Desai, Capital Group Fixed Income Asset Class Lead Margaret Steinbach, and Baird Funds Co-Chief Investment Officer Warren Pierson.

Chapters:
00:00:00 – Real Yield opens
00:00:31 – Bloomberg’s Michael McKee and Nancy Cook
00:04:22 – Subadra Rajappa: Convincing Committee To Be Dovish Going to Be A Challenge
00:05:43 – Sonal Desai: Kevin Warsh Most Hawkish Nominee We Had in 20 Years
00:07:25 – Desai: Give Him the Benefit of the Doubt
00:09:25 – Rajappa on Current Market Environment
00:11:35 – Desai: Outlook is Not Good in US and Developed Markets
00:13:27 – Rajappa: Fed Going To Keep Policy on Hold
00:15:00 – Margaret Steinbach: Bonds Will Continue to Act As Defensive Anchor Going Forwards
00:16:08 – Warren Pierson: Could See the Curve Steepen
00:17:05 – Steinbach: Finding Opportunities Within Credit Markets
00:18:02 – Pierson on Credit Spreads
00:19:15 – Steinbach and Pierson on Credit and AI Debt
00:25:28 – JPMorgan’s Dimon Pushes Back on Mamdani’s Tax Plans
00:27:09 – Muni Supply Propelled By Mega Deals
00:29:58 – What to Watch Next
00:30:46 – Final Thought
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