Daleep (Dalip) Singh
speaker
102 appearances
1 recordings
1 series
first heard Jul 2026
last heard 7 Jul
Daleep (Dalip) Singh’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
So on June 17, Kevin Walsh chaired his first meeting of the FOMC.
The rate decision itself was unremarkable.
It was a unanimous hold of the target range at 3.5% to 3.3 quarters percent.
Everything else, though, marked a regime shift.
The first signals were in what the Fed chose to say and not to say about policy.
The statement shrank.
from three hundred and forty one words to one hundred and thirty, the easing bias was dropped, the dot plot flipped from showing one cut to a projected hike this year.
And in the presser, the chair offered virtually no forward guidance other than an emphatic focus on price stability.
The second set of signals were about the institution itself.
Chair Warsh announced five task forces to review the Fed's communication practices, its balance sheet, its data sources, its inflation framework, and the impact of AI and other technologies on productivity and jobs.
To me the message was unmistakable.
This was the opening act.
Of a very different Fed.
And I'll say up front, I've long believed that Kevin Walsh is the right choice for this moment.
The Fed needed a chair who understands how to sustain institutional credibility in this environment when the system is under unprecedented stress, someone who knows when and how to deploy its most potent tools, who has the savvy to build consensus within the Federal Reserve system.
I should also mention up front that at PGM we've predicted out of consensus that the Walsh Fed will hike the policy rate seventy-five basis points this year.
The June meeting deepened our conviction about the direction of travel for policy, but the timing, the pace, the magnitude, the duration of the policy shift, those remain open questions for us.
And that's why I wanted to invite Jim Bullard to the show.
Jim is one of the most consequential monetary policymakers of the past two decades as president of the St.
Louis Fed from 2008 until 2023.
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