Kevin Warsh is new to his job as chair of the Federal Reserve, but he is already making one big change that is reverberating through the financial markets. He is no longer providing forward guidance about how the Fed might react to future U.S. economic developments. Are rate hikes likely to control inflation? Warsh will not say, leaving financial analysts uncertain how to navigate the economy.

Markets forced to ‘think for themselves’
Warsh “just broke one of the Fed’s most powerful habits,” Phil Rosen said at Inc. Fed officials voted to keep interest rates steady last week, but Warsh’s decision not to signal what might happen next was the “most important” thing he did. That is a departure from “years of clear and frequent forward guidance” under former chair Jerome Powell. Warsh seems to believe that keeping future plans close to the vest “will force markets to think for themselves rather than waiting to be told which way to swing.” 

That is discomfiting to market players. “What is Kevin Warsh thinking?” Kai Ryssdal and Sean McHenry said at Marketplace. The chairman has signaled “commitment to getting inflation under control,” but the absence of guidance means the Fed’s plans for how to do that are “still a little unclear.” Markets understandably want to know “what are the contingency plans? What would it take for the Fed to raise rates?” New Century Advisors’ Claudia Sahm said to the outlet. 

It is a “good thing” that the Fed is “staying quiet” under Warsh, Benn Steil said at The Washington Post. The Fed’s guidance under Powell often relied on “faulty forecasts” that “regularly undershot actual inflation.”

‘Less transparent Fed’
“Silence isn’t golden for a world looking to Kevin Warsh’s Fed,” Nicholas Spiro said at South China Morning Post. Warsh and his allies are correct that the Fed’s “forward guidance often proved counterproductive” under Powell. But a “less transparent Fed” creates “uncertainty in an already messy and unpredictable world.”

Stocks dropped and bond yields rose following last week’s Fed meeting, said The Wall Street Journal. This suggests Warsh’s silent treatment has not reassured markets he will aggressively confront inflation with higher interest rates.

The residents of Parsons, Kansas, may soon have atomic power humming in their backyard, as the small town is debating the development of a nuclear reactor. The idea has largely divided the people of Parsons. Some feel the reactor, which would be built a mile underground, could provide a needed environmental boost to the region, while others worry it could affect Kansas’ long history of oil and gas production.

Pilot project
The idea for the reactor comes from the energy startup Deep Fission, which appears to be all-in on moving ahead in Parsons. The company “plans to raise more than $40 million to fund its pilot project in Kansas,” said the Kansas Reflector. Deep Fission also began publicly trading stock with an “initial public offering of 2.5 million shares,” part of an effort to raise the funds needed for Parsons. The company plans to begin drilling boreholes for the reactor soon and “estimates connection to the grid sometime in 2027 or 2028,” said KWCH-TV Wichita.

‘I can’t think of a worse idea’
Elected officials in Kansas “see a chance to create jobs and lure data centers and manufacturers to a rural patch whose economy has been flatter than the surrounding cornfields,” said The Wall Street Journal, but many local homeowners scoff at the idea. “I put $125,000 into my house, and now a nuclear reactor is coming to town. I can’t think of a worse idea,” Jerel Johnson, who planned to retire in Parsons, told the Journal. Others worry “about environmental oversight and potential risks to water,” as watchdogs claim the Trump administration is “moving too fast and cutting corners” on nuclear regulation.

"For climate change — and trying to alleviate the issues that we have with climate change, nuclear energy has to be part of that solution,” environmental consultant John Young said to KCUR Kansas City. Officials are also confident that Deep Fission is “trying to interact better with the public and just let them know they’re here to support our town as well as hopefully new energy in the future,” Labette County Commissioner Vince Schibi told KCUR.

The Fuego volcano erupts, prompting the evacuation of hundreds. Guatemalan authorities declared the country’s second-most severe alert warning yesterday as the mountain, which is located less than 60 miles from Guatemala City, spewed gas and ash into the sky.
Johan Ordonez / AFP / Getty Images

It’s that time of year again, when the smell of fried food fills the air, farmers bring out their biggest livestock to be judged and bakers display their ribbon-winning pies. Almost every state has its own official state fair during the summer or fall, but these stand out with their funky foods, hefty produce and adorable animal exhibits.

Alaska State Fair
The Last Frontier’s state fair takes place in the Matanuska-Susitna Valley, where the “rich” soil and “legendary” 19 hours of daily summer sun produce vegetables of “almost unbelievable size,” said Travel and Leisure. Massive veggies aren’t the only draw; there’s a midway, lots of food vendors and Alaska Native crafts and cultural demos, which “genuinely reflect” the community. Aug. 21-Sept. 7, 2026

Minnesota State Fair
You can listen to live music and hop on rides, but the heart of the fair (pictured above) is “home-grown fun,” said Fodor’s, like the quirky 4-H Llama-Alpaca Costume Contest, seed and crop art displays and live butter carvings of Princess Kay and her royal court. That creativity extends to the food offerings, with more than 500 vendors bringing their A game. Aug. 27-Sept. 7, 2026

Texas State Fair
More than 2 million people attend every year and are greeted by Big Tex, the iconic 55-foot cowboy mascot. Concerts are included in the price of admission, with singers and bands performing on three stages. This year’s resident artist is jazz musician Ken Ebo. Sept. 25-Oct. 18, 2026