New Fed Chair Kevin Warsh Issued a Prophetic Warning 16 Years Ago. Now It's Coming Back to Haunt Him -- and Perhaps Investors, Too.
Warsh is now in a position to potentially fulfill a warning he made years ago.
New Fed Chair Kevin Warsh Issued a Prophetic Warning 16 Years Ago. Now It's Coming Back to Haunt Him -- and Perhaps Investors, Too.
Overview
In March 2010, a 39-year-old Federal Reserve Governor stood at a podium in New York City. He delivered a speech titled "An Ode to Independence" before a meeting of the Shadow Open Market Committee, a group of economists that closely monitors policy decisions made by the Federal Reserve and central banks of other nations.
That young man was Kevin Warsh, who became Federal Reserve Chair last month. In his speech 16 years ago, Warsh issued a prophetic warning. And it's a warning that could be coming back to haunt him -- and perhaps investors, too.
Image source: Official White House Photo by Daniel Torok.
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Originally published at www.fool.com.
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