Fed Chair Kevin Warsh and the FOMC Will Likely Take the First Step Toward Dropping the Hammer on Trumpflation This Week
While interest rates are widely expected to remain unchanged, Warsh and the Federal Open Market Committee (FOMC) appear set to make a subtle yet powerful monetary policy change.
Fed Chair Kevin Warsh and the FOMC Will Likely Take the First Step Toward Dropping the Hammer on Trumpflation This Week
Overview
It's been an eventful past month on Wall Street. The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped to fresh highs, while a changing of the guard was made official at the Federal Reserve. Jerome Powell served his final day as Fed chair on May 15, while Trump's handpicked successor, Kevin Warsh, was sworn in on May 22.
Something else that's set the tone on Wall Street is the monthly inflation report from the Bureau of Labor Statistics. In May, trailing 12-month inflation soared to 4.2%, representing a three-year high.
Fed Chair Kevin Warsh delivering remarks. Image source: Official White House Photo by Daniel Torok.
Details
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Originally published at www.fool.com.
