Kevin Warsh and the Fight for the Fed's Future with Jim Bianco & Andreas Steno

Andreas Steno sits down with Jim Bianco, President of Bianco Research, to unpack the current state of financial markets and macroeconomic trends. Jim argues that the Fed is moving away from the chairman-dominated model, which means more dissents, less forward guidance, and much greater uncertainty heading into every meeting. They also discuss Kevin Warsh’s effort to reshape the Fed’s reaction function, why anonymous leaks could undermine that strategy, the risk of changing how inflation is measured, and why markets may now be paying more attention to inflation than payrolls. Recorded on August 13, 2026 🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe Timestamps: 00:00 - Jim Bianco on the New Fed Regime 01:05 - How the Fed Became Chairman-Dominated 02:18 - Why the Fed Is Becoming More Independent 03:17 - A 12-Vote Fed Changes Everything 05:08 - Why Fed Meetings Will Be Harder to Predict 06:44 - When Forward Guidance Backfires 07:58 - What Is the Fed’s Reaction Function? 08:36 - Why There May Be 12 Different Reaction Functions 09:25 - Has Forward Guidance Really Disappeared? 10:38 - The Risk of Anonymous Fed Leaks 12:00 - Is Warsh Moving the Inflation Goalposts? 14:19 - Which Data Matters Most Now? 15:50 - Why Markets Looked Past the Jobs Miss 17:05 - Does Weak Payroll Growth Even Matter? About Real Vision™: We arm you with the knowledge, the tools, and the network to succeed in your financial journey. Connect with Real Vision™ Online: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Website: 🔥 https://rvtv.io/3Y4t5Pw 📈 Get your Real Vision swag: https://shop.realvision.com 📣 Elevate your brand with Real Vision. Connect with us at [email protected] to explore advertising possibilities. Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf #jimbianco #andreassteno #federalreserve #kevinwarsh #fed #interestrates #inflation #jobs #monetarypolicy #bonds #treasuries #macro #markets #investing #realvision