Fed Chair Kevin Warsh May Have Driven a Dagger Through Wall Street's Heart With This Candid 12-Word Statement
Warsh, the monetary hawk, has arrived amid the evolution of Trumpflation.
Overview
For the better part of the last four years, the bulls have been in firm control on Wall Street. Since early June, the ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and innovation-inspired Nasdaq Composite (NASDAQINDEX: ^IXIC) have vaulted to record-closing highs on the heels of the artificial intelligence (AI) revolution and better-than-expected corporate earnings.
But this doesn't mean headwinds aren't mounting for a historically pricey stock market. Arguably, the biggest unknown at the moment is inflation, which is exacerbated by the ideological overhaul that new Fed Chair Kevin Warsh is undertaking at America's foremost financial institution.
Details
Although there's always some level of change and uncertainty when a new Fed chair takes the reins, Warsh's latest comments about inflation may have driven a proverbial dagger directly through Wall Street's heart.
Source
Originally published at www.fool.com.
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