Lionel Kerrigan
Lionel Kerrigan writes for Hawko Review and other Independent Journal publications, covering the Federal Reserve and central banks and economic data and Treasury markets. Reporting under this byline is prepared by the Independent Journal editorial desk from primary sources, with AI assistance, and reviewed under our editorial policy.
10 articles
Hawkish Fed Risk Grows as GDP Beats and Inflation Accelerates
Third-quarter GDP grew 3.4% and September inflation picked up, while Kevin Warsh keeps Wall Street guessing on a possible December hike. Here is what it means.
FOMC statement: Warsh says US economy isn't running too hot
Fed Chair Warsh said after the October FOMC statement that the US economy is not running too hot. Here is what that framing signals and what to watch next.
FOMC Minutes Point to a Year-End Hike as October Meeting Nears
Before the October 27-28 meeting, the September FOMC minutes, dot plot, Beige Book and Treasury yields frame whether the Fed's next hike comes now or in December.
Fed Discount Rate Minutes Are Out, Distinct From FOMC Minutes
The Fed released minutes of Board discount rate meetings from August 17, September 9 and September 16, 2026. Here is what the release is and how it differs from FOMC minutes.
Hawkish Fed: Discount Rate Minutes Show Banks Pushed a Hike
Minutes of the Fed's August and September discount rate meetings show Reserve Bank requests for a higher rate grew from two to seven before the September hike.
Bank supervision: Bowman moves Fed oversight into five regions
Vice Chair for Supervision Bowman said the Fed will realign bank supervision into five state-aligned regions and revisit asset thresholds and CAMELS ratings.
Hawkish Fed: Barr says more rate increases likely after hike
Governor Barr told the Detroit Economic Club that inflation is too high, risks have shifted from jobs to prices, and further policy adjustments are likely.
Discount window modernization: Jefferson links it to Treasuries
Vice Chair Jefferson said Fed discount window upgrades, including a portal now used for over 60% of loan requests, support banks and Treasury market liquidity.
How an FOMC meeting works, from the agenda to the FOMC statement
A plain-English guide to how an FOMC meeting works: who votes, how often the committee meets, what is released afterward, and how decisions reach the public.
FOMC Minutes for July 2026 Detail the Case for a Rate Hike
July 2026 FOMC minutes, released August 19, show many participants saw inflation risks skewed to the upside as three voters dissented in favor of a rate hike.