Name: Warsh Says Inflation Isn’t Slowing | Radio Balance of Power: Early Edition 8/28/2026
Uploaded: 2026-08-28T19:26:45+00:00
Duration: 2878 s

Speakers

Martin Kuchař — co-founder, BTC Prague

David Bianco — Head of Macro Strategy, Deutsche Bank

Michael McKee — International Economics & Policy Correspondent, Bloomberg

Leela Gray — Democratic congressional candidate in Florida; retired Army brigadier general

Charlie Pellett — Anchor/Reporter, Bloomberg

Rick Davis — Republican Strategist, Partner at Stonecourt Capital

Jeanne Sheehan Zaino — Visiting Democracy Fellow, Harvard Kennedy School Ash Center

Summary

The show centers on Fed Chair Kevin Warsh's Jackson Hole speech warning that inflation is not slowing and pledging to return to the 2% target. Guests discuss global inflation risks, structurally high long-term Treasury yields, and the September Fed rate decision. The political panel and a congressional candidate also address voter anxiety, housing costs, and defense priorities linked to the Iran war.

Warsh says inflation is not slowing and the Fed must return to 2%, raising September rate hike bets.
Austrian Governor Kocher sees elevated oil and European gas prices and calls Europe's economy resilient.
David Bianco attributes high long-term Treasury yields to deficits and doubts Treasury intervention.
Michael McKee says payrolls, CPI, and PPI will determine whether markets price a September Fed hike.
Political panel discusses consumer rate expectations, housing costs, and Fed independence.
General Leela Gray argues defense spending should shift toward drones and cyber capabilities.
Markets close lower for stocks, with yields up, oil mixed, gold down, and Marvell/Nvidia lower.

Ideas

Martin Kuchař co-founder, BTC Prague 8:04

Energy prices rising, threatening price stability.

Kocher argues oil prices are staying elevated for an extended period and European natural gas spot and forward prices are rising, creating a threat to price stability and inflation.

Martin Kuchař co-founder, BTC Prague 14:45

Europe's economy is more resilient than thought.

Kocher says the European economy is more resilient than many think and is showing momentum, despite structural challenges, China/trade questions, and uncertainty from the Iran war.

David Bianco Head of Macro Strategy, Deutsche Bank 21:12

Deficits keep long-term Treasury yields structurally high.

Bianco argues long-term Treasury yields are at nearly 25-year highs mainly because of the secular US deficit and government debt-to-GDP above 6%, requiring more domestic funding as China, Europe, and Japan buy fewer US bonds; Treasury jawboning is inappropriate and unlikely to drive yields down.

Michael McKee International Economics & Policy Correspondent, Bloomberg 35:53

US data decide September Fed hike pricing.

McKee says the upcoming payrolls, CPI, and PPI reports are decisive for the September Fed meeting: if inflation makes no progress after CPI/PPI, markets will price in a Fed rate hike; if inflation cools, skipping a hike won't upset the bond market.

Leela Gray Democratic congressional candidate in Florida; retired Army brigadier general 45:43

Defense spending should favor drones and cyber.

Gray argues future warfare is drones and cyber, so defense budgets should invest heavily in modern systems rather than over-spending on legacy platforms, with strict oversight of contracts.

This Bloomberg Markets video, published August 28, 2026, features Martin Kuchař, David Bianco, Michael McKee, Leela Gray discussing WTI, UNG, VGK, US long-term Treasury yields, US 2-Year Treasury Yield, ITA, CIBR. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Martin Kuchař, David Bianco, Michael McKee, Leela Gray · Tickers: WTI, UNG, VGK, US long-term Treasury yields, US 2-Year Treasury Yield, ITA, CIBR

Warsh Says Inflation Isn’t Slowing | Radio Balance of Power: Early Edition 8/28/2026

Summary

Ideas

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