Kevin Warsh just ended his first ever FOMC meeting as Fed chair.
His message to markets: "I can't give you any guidance on what we're going to do next."
Here is what he said:
1. Inflation is still way above the Fed's 2% target and prices are too high for most people
2. "We will fix five years of misses on inflation", he is directly saying the previous Fed failed
3. The Fed will no longer tell you in advance what it plans to do with interest rates
4. He watches stock market prices more than anything else when making decisions
5. Interest rates are hurting the housing market but are not slowing down financial markets
6. All 19 members at the table agreed not to raise rates today
7. The 2% inflation target is not changing
8. He refused to say whether bond yields rising after today's decision concerns him
9. He refused to say whether he has spoken to Trump since becoming Fed chair
Under Powell, the Fed always told markets what was coming next. Under Warsh, that is gone.
Australia, Canada, UK, India, Poland, Sweden, Singapore and Germany have told their citizens to leave Dubai immediately.
America has raised Dubai to Risk Level 3.
Last week, schools in Dubai reopened last week.
Many are beginning to shut down again.
Here's why.
Iran is demanding 11 trillion dollars in frozen assets from the US to reopen the Hormuz.
Plus they want more from the UAE and other Gulf countries in compensation.
Talks haven't started yet in Pakistan.
But both countries are almost sure there will be no deal.
Because,
America has sent its largest naval force to Dubai since the Iraq War.
Iran is setting up drone launch platforms as we speak.
China and America are telling their citizens to leave Iran.
Iranian State TV broadcast a map.
They showed multiple targets inside Dubai.
IRGC is also ready to strike Das Island and Zirku Island in the UAE.
If the blockades don't open, things could get ugly.