{"id":705382,"date":"2026-05-25T00:00:00","date_gmt":"2026-05-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=705382"},"modified":"2026-05-25T02:42:33","modified_gmt":"2026-05-25T02:42:33","slug":"the-powell-playbook-ended-friday-the-next-one-hasnt-been-written","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/","title":{"rendered":"The Powell playbook ended Friday. The next one hasn\u2019t been written"},"content":{"rendered":"

Kevin Warsh\u2019s response to being sworn in as the new Chairman of the Federal <\/strong>Reserve on Friday was direct.<\/strong> He will lead a reform-oriented Federal Reserve<\/a> \u201cescaping static frameworks and models.\u201d<\/p>\n

What does this mean for our neck of the woods?<\/strong> Whatever framework Warsh constructs over his first 90 days will be the framework GCC monetary authorities operate within, irrespective of regional fiscal needs. Saudi Arabia, the UAE, Qatar, Bahrain, and Oman peg their currencies to the greenback, which means SAMA, CBUAE, QCB, CBB, and CBO will import Warsh\u2019s policy stance with no domestic mediation.<\/p>\n

A complicated starting point:<\/strong> Warsh has explicitly told the market the set of assumptions made during Jerome Powell\u2019s Fed are about to change, and the starting conditions complicate everything. April CPI came in at 3.8% \u2014 a three-year high. Mortgage rates climbed to a nine-month high. JPMorgan now forecasts rates will likely remain unchanged until mid-2027<\/a>, with hikes more likely than cuts. Bank of America has pushed its first-cut forecast to 2H 2027.<\/p>\n

The tension was visible in the East Room on Friday:<\/strong> Trump pressed a growth-first policy, and Warsh invoked central bank independence and price stability in the same set of remarks. A \u201creform-oriented\u201d Warsh Fed could move policy faster in either direction than Powell\u2019s framework allowed, which means EM importer treasuries and external financing teams all need to rebuild their 18-24 month assumptions around a framework that hasn\u2019t been disclosed yet.<\/p>\n

For GCC sovereign funds, the equation runs differently. <\/strong>PIF cut its international allocation target from 30% to 20% in April specifically to reduce exposure to US monetary policy transmission. The Warsh transition vindicates that swing, but only if the framework shift produces tighter conditions.<\/p>\n

A different playbook:<\/strong> If Warsh delivers what Trump wants and rates start moving, GCC SWFs that pulled capital home over the last six months will be reading a different playbook than the one they positioned for Aramco and Adnoc\u2019s war windfalls compound under tight rates. The non-oil credit cycle needed for UAE and Saudi industrial diversification requires the opposite.<\/p>\n

MARKETS THIS MORNING- <\/p>\n

Asia-Pacific markets are up in early trading this morning, led by Japan\u2019s Nikkei, which soared to record highs as a potential end to the regional war reignited investor appetite. South Korea and Hong Kong are closed today. US markets, too, will be closed today in observance of Memorial Day. <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong> <\/p>\n<\/td>\n

\n

52,861<\/p>\n<\/td>\n

\n

+1.5% (YTD: +26.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong> <\/p>\n<\/td>\n

\n

Buy 52.25<\/p>\n<\/td>\n

\n

Sell 52.38<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB<\/strong>) <\/strong><\/p>\n<\/td>\n

\n

Buy 52.25<\/p>\n<\/td>\n

\n

Sell 52.35<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates (CBE)<\/strong><\/p>\n<\/td>\n

\n

19.00% deposit<\/p>\n<\/td>\n

\n

20.00% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong> <\/p>\n<\/td>\n

\n

11,028<\/p>\n<\/td>\n

\n

+0.4% (YTD: +5.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong> <\/p>\n<\/td>\n

\n

9,658<\/p>\n<\/td>\n

\n

+0.2% (YTD: +3.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong> <\/p>\n<\/td>\n

\n

5,693<\/p>\n<\/td>\n

\n

+0.6% (YTD: -5.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong> <\/p>\n<\/td>\n

\n

7,473<\/p>\n<\/td>\n

\n

+0.4% (YTD: +9.2%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong> <\/p>\n<\/td>\n

\n

10,466<\/p>\n<\/td>\n

\n

+0.2% (YTD: +5.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong> <\/p>\n<\/td>\n

\n

6,019<\/p>\n<\/td>\n

\n

+1.0% (YTD: +3.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 103.54<\/p>\n<\/td>\n

\n

+0.9%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n

\n

USD 2.91<\/p>\n<\/td>\n

\n

-3.7%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold <\/strong><\/p>\n<\/td>\n

\n

USD 4,556<\/p>\n<\/td>\n

\n

-0.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong> <\/p>\n<\/td>\n

\n

USD 76,613<\/p>\n<\/td>\n

\n

-0.8% (YTD: -12.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P Egypt Sovereign Bond Index<\/strong><\/p>\n<\/td>\n

\n

1,047<\/p>\n<\/td>\n

\n

+0.1%% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P MENA Bond & Sukuk<\/strong><\/p>\n<\/td>\n

\n

150.44<\/p>\n<\/td>\n

\n

+0.2% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

VIX (Volatility Index)<\/strong><\/p>\n<\/td>\n

\n

16.70<\/p>\n<\/td>\n

\n

-0.4% (YTD: +11.7%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

\n

THE CLOSING BELL-<\/p>\n

The EGX30 rose<\/strong> 1.5% at <\/strong>yesterday\u2019s<\/strong> close<\/strong> on turnover of EGP 7.3 bn (8.8% below the 90-day average). International investors were the sole net buyers. The index is up 26.4% YTD.<\/p>\n

In the green:<\/strong> Raya Holding (+7.6%), ADIB (+4.0%), and Palm Hills Developments (+4.0%).<\/p>\n

In the red:<\/strong> Valmore Holding -EGP (-3.1%), Qalaa Holdings (-2.1%), and Abu Qir Fertilizers (-2.1%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Kevin Warsh was sworn in as Fed Chair on Friday, pledging to lead a \u201creform-oriented\u201d Federal Reserve and \u201cescape static frameworks and models\u201d<\/p>\n","protected":false},"author":1,"featured_media":705383,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[72,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-705382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"4b44a0ab-d577-492c-9b53-4484abbf168d","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/5\/1440.jpg","photo_position":"above","homepage_title":"","full_issue_title":"What Kevin Warsh\u2019s \u201creform-oriented\u201d Fed means for us","related_issue":[705363],"teaser":"Kevin Warsh was sworn in as Fed Chair on Friday, pledging to lead a \u201creform-oriented\u201d Federal Reserve and \u201cescape static frameworks and models\u201d"},"yoast_head":"\nThe Powell playbook ended Friday. The next one hasn\u2019t been written - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Powell playbook ended Friday. The next one hasn\u2019t been written\" \/>\n<meta property=\"og:description\" content=\"Kevin Warsh was sworn in as Fed Chair on Friday, pledging to lead a \u201creform-oriented\u201d Federal Reserve and \u201cescape static frameworks and models\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-25T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-25T02:42:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The Powell playbook ended Friday. The next one hasn\u2019t been written\",\"datePublished\":\"2026-05-25T00:00:00+00:00\",\"dateModified\":\"2026-05-25T02:42:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\"},\"wordCount\":527,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Financial Markets\",\"Planet Finance\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\",\"name\":\"The Powell playbook ended Friday. The next one hasn\u2019t been written - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2026-05-25T00:00:00+00:00\",\"dateModified\":\"2026-05-25T02:42:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Powell playbook ended Friday. The next one hasn\u2019t been written\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Powell playbook ended Friday. The next one hasn\u2019t been written - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/","og_locale":"en_US","og_type":"article","og_title":"The Powell playbook ended Friday. The next one hasn\u2019t been written","og_description":"Kevin Warsh was sworn in as Fed Chair on Friday, pledging to lead a \u201creform-oriented\u201d Federal Reserve and \u201cescape static frameworks and models\u201d","og_url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2026-05-25T00:00:00+00:00","article_modified_time":"2026-05-25T02:42:33+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"The Powell playbook ended Friday. The next one hasn\u2019t been written","datePublished":"2026-05-25T00:00:00+00:00","dateModified":"2026-05-25T02:42:33+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/"},"wordCount":527,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM","Financial Markets","Planet Finance"],"articleSection":["PLANET FINANCE"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/","url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/","name":"The Powell playbook ended Friday. The next one hasn\u2019t been written - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1","datePublished":"2026-05-25T00:00:00+00:00","dateModified":"2026-05-25T02:42:33+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/25\/the-powell-playbook-ended-friday-the-next-one-hasnt-been-written\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"The Powell playbook ended Friday. The next one hasn\u2019t been written"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2026\/5\/1440.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":695593,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/23\/warsh-asserts-fed-independence-vows-reform\/","url_meta":{"origin":705382,"position":0},"title":"Warsh asserts Fed independence, vows reform","author":"enterpriseam admin","date":"23 April 2026","format":false,"excerpt":"Warsh argued the Fed needs significant reform","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1153.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636802,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/what-were-tracking-this-week-94\/","url_meta":{"origin":705382,"position":1},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"1 November 2017","format":false,"excerpt":"US President Donald Trump is expected to announce his choice for chair of the Federal Reserve board tomorrow. The frontrunner according to a number of media outlets appears to be Federal Reserve Governor Jerome Powell. Other candidates on his shortlist include current Fed Chair Janet Yellen, Stanford University economist John\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639528,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/31\/what-were-tracking-this-week-123\/","url_meta":{"origin":705382,"position":2},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"31 October 2017","format":false,"excerpt":"US President Donald Trump is expected to announce his choice for chair of the Federal Reserve board on Thursday, a White House official said on Monday, according to Bloomberg. The president is leaning toward picking Federal Reserve Governor Jerome Powell, according to three people familiar with the matter. Other candidates\u2026","rel":"","context":"In "What We\u2019re Tracking This Week"","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638973,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/international-news-on-18-october-2017\/","url_meta":{"origin":705382,"position":3},"title":"International news on 18 October 2017","author":"enterpriseam admin","date":"18 October 2017","format":false,"excerpt":"Fed Governor Jerome Powell is being tipped as the next head of the Federal Reserve when current chair Janet Yellen\u2019s tenure expires in February, according to a Reuters poll of some 40 economists. Just over half of poll takers see Powell as next in line as he is the candidate\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/10\/2393.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":702164,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/14\/imf-mission-lands-in-cairo-a-month-early-for-seventh-review\/","url_meta":{"origin":705382,"position":4},"title":"IMF mission lands in Cairo a month early for seventh review","author":"enterpriseam admin","date":"14 May 2026","format":false,"excerpt":"Good morning, friends. Reform week is here, and it\u2019s moving faster than we thought. An IMF mission landed Monday and began the seventh review yesterday \u2014 over a month ahead of schedule. The government filed updated reform credentials days before the mission flew in, in a bid to prove reforms\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TODAY"","block_context":{"text":"WHAT WE\u2019RE TRACKING TODAY","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today-10\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/121.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":684726,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/02\/crowded-trades-reverse-as-metals-plunge-and-usd-gains\/","url_meta":{"origin":705382,"position":5},"title":"Crowded trades reverse as metals plunge and USD gains","author":"enterpriseam admin","date":"2 February 2026","format":false,"excerpt":"The gold and silver rout raised concerns over momentum-driven markets","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/2\/91.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/705382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=705382"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/705382\/revisions"}],"predecessor-version":[{"id":705417,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/705382\/revisions\/705417"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/705363"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/705383"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=705382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=705382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=705382"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=705382"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=705382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}