Kevin Warsh May Throw President Donald Trump Under the Bus in His First FOMC Meeting as Fed Chair
The new Fed chair is likely to home in on elevated inflation and its primary causes.
Kevin Warsh May Throw President Donald Trump Under the Bus in His First FOMC Meeting as Fed Chair
Overview
It's been a history-filled past five weeks on Wall Street. We've witnessed:
The latter shift is of particular importance to a historically pricey stock market. Jerome Powell's final day as Fed chair on May 15 paved the way for President Donald Trump's handpicked successor, Kevin Warsh, to officially take the job as head of the Fed on May 22.
Details
Although Warsh was previously a Federal Open Market Committee (FOMC) member from Feb. 24, 2006, to March 31, 2011, today, June 17, marks the first time he'll head an FOMC meeting -- and it's a doozy. U.S. inflation hit a three-year high in May, setting the stage for a potential shift in the central bank's monetary policy.
Source
Originally published at www.fool.com.
