Warsh Walks a Tightrope in First Fed Decision

Speaker 10:00

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Luke Vargas· Host0:30

Here is your morning brief for Wednesday, June seventeenth. I'm Luke Vargas for The Wall Street Journal. All eyes will be on new Fed Chairman Kevin Warsh's first rate decision and press conference later today, with Warsh widely expected to provide less guidance. That includes not publishing the Federal Reserve's so-called dot plot, which maps out where rates are headed. There are also questions around whether Warsh will move to cut rates like the president wants, despite inflation running near four percent. European stocks and US futures are fairly flat ahead of the decision, due at two PM Eastern. And you can check out wsj.com for live coverage throughout the day. Chinese social media app Xiaohongshu is aiming to IPO in Hong Kong as soon as this year, targeting a more than seventy billion dollar valuation. Known as Red or Red Note internationally, the so-called Chinese Instagram has more than four hundred million monthly active users. Its