Fed Chair Kevin Warsh Just Hammered Home the 2 Words That'll Define His Tenure as Head of the Central Bank -- and They're Worrisome for Wall Street
The new Fed chair's top priority is a double-edged sword for the second-priciest stock market in history.
Overview
This has been a historic year for Wall Street and investors -- and we still have more than five months to go. Since mid-May, we've witnessed the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and widely followed Nasdaq Composite (NASDAQINDEX: ^IXIC) climb to record highs.
More importantly, we observed an ultra-rare changing of the guard at America's foremost financial institution, the Federal Reserve. President Donald Trump's handpicked successor to Jerome Powell was officially sworn in on May 22, becoming only the 17th Fed chair since the central bank's inception in December 1913.
Fed Chair Kevin Warsh pledged to lead a reform-oriented Federal Reserve. Image source: Official Federal Reserve Photo.
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Originally published at www.fool.com.