Fed Chair Kevin Warsh's Job Just Got Much Easier. Here's What's Likely Next for the Stock Market As a Result.
The pressure for a rate hike has subsided -- but maybe only temporarily.
Overview
Kevin Warsh stepped into a tough situation when he was sworn in as the new Federal Reserve chair in May. President Donald Trump appointed him in hopes that Warsh would cut interest rates -- or, at a minimum, leave them unchanged. However, the macroeconomic dynamics were converging in a way that heightened expectations that the Fed would have to increase rates.
But Warsh's job now appears to be much easier, thanks to two economic reports released by the U.S. Bureau of Labor Statistics (BLS) in recent weeks. Here's what's likely next for the stock market as a result.
Image source: Official Federal Reserve Photo.
Details
Source
Originally published at www.fool.com.
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