Nic@puckrin
Kevin Warsh just picked his two Fed advisers.
Here’s why it matters:
Daniel Covitz: 30 years at the Fed, specialist in financial stability & credit markets.
Eric Engstrom: called the soft landing dead in mid-2025. His model flagged “mild stagflation” before anyone else was saying it.
Together they argued yields are rising because of deficit fears & supply shocks, not Fed credibility.
That’s the lens Warsh is now looking through.
Kevin Warsh just picked his two Fed advisers.
Here's why it matters:
Daniel Covitz: 30 years at the Fed, specialist in financial stability & credit markets.
Eric Engstrom: called the soft landing dead in mid-2025. His model flagged "mild stagflation" before anyone else was…
— Nic (@puckrin) June 26, 2026
WSJ report on Warsh Fed picks June 2026 https://www.reuters.com/business/fed-chair-warsh-taps-veteran-economists-advisers-wsj-reports-2026-06-26/