Fed Chair Kevin Warsh Is in a No-Win Scenario -- and So Is Wall Street
The new head of the Fed is about to learn that appeasing Wall Street and President Donald Trump is virtually impossible.
Fed Chair Kevin Warsh Is in a No-Win Scenario -- and So Is Wall Street
Overview
It's been an eventful past month for Wall Street and investors. Earlier this month, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), widely followed S&P 500 (SNPINDEX: ^GSPC), and growth-stock-inspired Nasdaq Composite (NASDAQINDEX: ^IXIC) rocketed to all-time highs.
Meanwhile, Jerome Powell's tenure as Fed chair came to a close on May 15. President Donald Trump's nominee, Kevin Warsh, officially became only the 17th head of the central bank on May 22.
Details
While change is a given on Wall Street, not all shifts are necessarily good news for the stock market or investors. Warsh's ascent to Fed Chair comes at a particularly challenging time for the Federal Open Market Committee (FOMC) -- the 12-person body responsible for setting the nation's monetary policy -- and Wall Street. It appears that no matter what action Warsh oversees next, neither he nor Wall Street can come out as winners.
Source
Originally published at www.fool.com.
