Markets Doubt Warsh Can Deliver the Trump-Requested Fed Cut

Investors have shifted from pricing multiple Fed-rate cuts under Kevin Warsh to doubting his ability to deliver a cut, as hotter-than-expected April inflation and producer prices push the odds toward a hold—if not a hike—by year‑end, with Fed Funds futures signaling a hold through September and traders pricing higher long‑term yields amid policy uncertainty under Trump.