Fed Chair Kevin Warsh Vowed to End 5 Years of High Inflation in First Congressional Testimony
An unpredictable geopolitical situation may make it much harder than anticipated.
Overview
After leading the way for eight years, former Federal Reserve (Fed) chair Jerome Powell passed the torch to Kevin Warsh. July 14's congressional testimony was Warsh's first as the leader of the Fed, and a chance for Americans to see Warsh's plans for the economy.
One of the more memorable statements Warsh made was that inflation was a "choice," arguing that it's the Fed's job to proactively bring it under control and that if it doesn't, the blame should fall on the Fed. That's a slightly different tone from what we're used to seeing from the Fed.
Details
Of course, Warsh's call to end inflation sounds good, but it won't be a walk in the park. If it were that easy, we'd rarely see high inflation numbers.
Source
Originally published at www.fool.com.