2 Sneaky Ways Fed Chair Kevin Warsh and the FOMC Can Raise Interest Rates Without Adjusting the Federal Funds Rate
The new Fed chair's reforms can indirectly impact interest rates.
Overview
The last two months have been packed with memorable moments on Wall Street. We've watched the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) launch to record highs, borne witness to the world's largest initial public offering, and observed a rare change in power at the Federal Reserve.
May 15 marked the final day of Jerome Powell's second term as Fed chair, while May 22 was the official swearing-in day for his successor, Kevin Warsh. Since the central bank's inception more than 122 years ago, it's only had 17 Fed chairs, including Warsh.
Fed Chair Kevin Warsh intends to lead a reform-oriented central bank. Image source: Official Federal Reserve Photo.
Details
Source
Originally published at www.fool.com.