While some have gone to classifying Warsh as rather hawkish given the extent of his policy leanings, we think it is more apt to think of him as a pragmatist, one that recognizes the scope creep of the Fed over the past couple of decades and the inherent inconsistencies vis-à-vis its original design by having essentially become an enabler of fiscal largesse.

That being said, nominee Warsh does appear likely to favor cutting rates once in office, taking a rather dovish view that productivity gains support a lower neutral rate even ahead of additional evidence around further progress on inflation.

In any case, the market’s response has been to continue the recent trend of ‘broadening out’ beyond the Tech sector. And while we wouldn’t directly attribute the sharp sell-off in the Software complex to Warsh/monetary policy considerations, nor should it be discounted as a secondary/underlying influence. With the shift in market leadership, we’ve also seen an uptick in volatility and ‘defensiveness’ in the tape. That is, perhaps, to be expected as capital completes the process of finding a new home. Ultimately, our sense is that those familiar names from yesteryear (e.g., Industrials, Materials, Energy, Financials) may be where more of that capital comes to rest.

Go Red for Women

Venture Visionary Partners were proud sponsors of the 2026 Go Red for Women Luncheon again this year. The luncheon celebrated the American Heart Association’s Go Red for Women initiative, which has been a driving force for heart health awareness and advocacy for more than two decades. The initiative has met the evolving health needs of women and addressed the awareness and clinical care gaps of their greatest health threat, cardiovascular disease (CVD). Go Red for Women is a source of credible, equitable health solutions at every age, stage, and season of life, walking together with women as a trusted health partner.

Additional Information on Trump Accounts and How They Fit Into a Child’s Financial Plan

The recently introduced Trump Accounts, created under the One Big Beautiful Bill Act, offer a new tax-advantaged way for families to invest on behalf of children. These accounts are designed to encourage long-term investing by allowing parents, grandparents, employers, and others to contribute up to $5,000 annually for a child until age 18. Contributions are made with after-tax dollars, but investments grow tax-deferred, providing meaningful compounding opportunities over time. Once the child reaches age 18, the account transitions into an IRA, where funds continue to grow under retirement account rules but there are provisions for funds to be withdrawn penalty free for higher education expenses and a first-time home purchase.

**NOTE – The first contribution won’t be available until after July 4th, 2026.

While Trump Accounts introduce another savings option, they should be viewed as part of a broader strategy rather than a replacement for existing planning tools. Education funding remains a major priority for many families, and 529 plans still provide some of the strongest tax advantages for qualified education expenses. Additionally, once a child begins earning income, contributing to a Roth IRA is often one of the most powerful long-term wealth strategies available due to tax-free growth and withdrawal flexibility.

Three Key Takeaways:

• Trump Accounts provide early, tax-advantaged investing opportunities for children.

• 529 plans generally remain the most efficient vehicle for education funding.

• Roth IRAs, once a child has earned income, often represent the most valuable long-term tax-free growth strategy.

As always, selecting the right mix of accounts depends on your family’s goals, tax situation, and long-term planning priorities. More detail HERE.