Federal Reserve Chair Kevin Warsh said in an IMF-World Bank Annual Meetings fireside chat on Oct. 16 that he had failed to focus enough on non-monetary functions such as bank supervision in his first 148 days. He noted that 75% of Fed staff do not work directly on monetary policy and said he had not communicated his support for those divisions well enough. He pledged to give equal focus to other parts of the central bank in his next 100 days, arguing that its credibility depends on every function. Year-to-date, the S&P 500 is up 11.89%, the Nasdaq Composite 12.47% and the Dow Jones 8.2%.
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Related tickers and likely impact
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 101.78 |
| Change that session | -0.20% |
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