Kevin Warsh

The white marble facade of the Federal Reserve's Eccles Building in Washington under a blue sky, with an American flag above the entrance.

Hall and Woodford Won the Economics Nobel for Models Behind Forward Guidance. Forty-Five Days Earlier, the Fed Chair Said the Practice "Has Overstayed Its Welcome."

Robert E. Hall and Michael Woodford won the 2026 economics Nobel on Monday for the microeconomic foundations of stabilisation policy. The Academy credits Woodford, among others, with proposing forward guidance. On 28 August Fed Chair Kevin Warsh said the practice "has overstayed its welcome."

By Daniel Okafor 1 hour ago

A large bronze ring lettered Federal Reserve Bank San Francisco hangs at the entrance of a vaulted concrete arcade, with overhead cables crossing in front of it.

The Long View

The Fed Now Counts the AI Buildout as an Inflation Problem. Most Officials Expect Another Rate Rise This Year.

Minutes of the Federal Reserve's September meeting show every participant supported raising rates to a range of 3.75 to 4 per cent, and most expect another increase by the end of the year. Tariffs, the main inflation story of 2025, are fading. Spending on artificial intelligence and energy are taking their place.

By Cory Chamberlain October 8, 2026

Kevin Warsh

Tagged stories

Hall and Woodford Won the Economics Nobel for Models Behind Forward Guidance. Forty-Five Days Earlier, the Fed Chair Said the Practice "Has Overstayed Its Welcome."

The Fed Now Counts the AI Buildout as an Inflation Problem. Most Officials Expect Another Rate Rise This Year.