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Podcast: Thoughts on the Market
Episode: Why a Fed Pivot Could Trigger Volatility
Description: Fed Chair Jay Powell’s speech at Jackson Hole underscored the central bank’s new focus on managing downside growth risks. Michael Zezas, our Global Head of Fixed Income Research and Public Policy Strategy, talks about how that shift could impact markets heading into 2026.  Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income Research and Public Policy Strategy.Today: What a subtle shift in the Fed’s reaction function could me...