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Fortune

Diane Brady

Tariffs, debt, and a stubborn Fed are squeezing consumers

US Federal Reserve Kevin Warsh Fortune Inflation

(Credit: Photo by Win McNamee—Getty Images)

In today’s CEO Daily: Unpacking the Fed’s latest decision
The big leadership story: Inside Ikea’s big bet on humans
The markets: Mixed globally as investors digest major earnings.
Plus: All the news and watercooler chat from Fortune .

Good morning. How are you feeling about the U.S. economy? Federal Reserve Chairman Kevin Warsh said yesterday that the Fed wants to see an annual U.S. inflation rate of 2%. It’s now running at 3.5%. And yet the Fed left interest rates unchanged, a decision that prompted dissenting votes from three regional presidents who want to raise rates. “It was a real family fight,” he said. “That’s the way to get policy right.” The trajectory of that policy is unclear as Warsh, unlike his predecessor, isn’t one to give forward guidance. Some takeaways:

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