Fed Chair Kevin Warsh Just Doubled Down on His Promise to Change How the Central Bank Thinks About Inflation
If the new Fed chair's definition of price stability looks oddly familiar, there's a good reason.
Overview
Since the beginning of June, investors have watched the time-honored Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and growth-propelled Nasdaq Composite (NASDAQINDEX: ^IXIC) climb a wall of worry and launch to new highs.
But a new era has arrived for Wall Street's major stock indexes, courtesy of newly sworn-in Fed Chair Kevin Warsh. President Donald Trump's handpicked successor to Jerome Powell is undertaking an ideological overhaul of the central bank and attempting to reform one of its most fundamental mandates: price stability.
Fed Chair Kevin Warsh is overseeing a reform-oriented Fed. Image source: Official White House Photo by Daniel Torok.
Details
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Originally published at www.fool.com.
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