Markets are escalating pressure on Federal Reserve Chair Kevin Warsh as investors weigh whether the Fed will follow through on inflation-fighting signals. After a contentious July policy meeting that held rates steady, subsequent Warsh comments triggered a Treasury selloff and “credibility shock” concerns. Two reporting angles underscore the volatility: one highlights uncertainty over how the Fed measures inflation and how quickly inflation is actually cooling; another focuses on Warsh’s remarks about potentially looking beyond the Fed’s preferred inflation gauge and adjusting tools beyond rate hikes. Separately, the New York Times reported Warsh is considering reducing the frequency of scheduled FOMC meetings—an institutional change that would be significant at a moment when investors are already demanding clearer commitments tied to above-target inflation. For colleges and universities, the immediate link is cost of capital and discount-rate effects on endowments and bond portfolios, alongside impacts on student affordability through housing and broader household borrowing conditions.