It's Been Over 7 Weeks, and Fed Chair Kevin Warsh Has Failed to Make Any Headway on a Key Central Bank Reform
Jerome Powell's successor vowed to get the Fed "out of the fiscal business" -- but that's not happened.
Overview
This has been a momentous year for Wall Street. We've watched the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) climb to record highs, observed the largest-ever initial public offering, and have borne witness to a rare shift in power at the Federal Reserve.
On May 22, President Donald Trump's handpicked successor to Jerome Powell, Kevin Warsh, was officially sworn in as the 17th Fed chair. Warsh wasted little time outlining the laundry list of changes he'd like to implement at America's foremost financial institution. While some of these reforms have taken effect, Warsh has made no progress on his most vocal proposal.
Fed Chair Kevin Warsh delivering remarks. Image source: Official Federal Reserve Photo.
Details
Source
Originally published at www.fool.com.
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