New Fed Chair Kevin Warsh Says There's a Huge Problem With Financial Markets Right Now. His Solution Could Be Bad News For Stock Investors
Warsh laid out his plans for changing certain Fed policies in his first press conference as chairman.
Overview
Kevin Warsh is already having a noticeable impact on the Federal Reserve. The FOMC held its first meeting since Warsh took the position of chairman earlier this month, and there were a few things worth noting.
First, the statement released after the meeting was short and to the point. The final sentence read, "The Committee will deliver price stability," indicating a larger focus on bringing inflation down. Previously, the committee expressed the need to balance full employment and inflation.
Details
Second, Warsh gave his first press conference as chairman, during which he laid out his plans for changing various Fed policies. In doing so, he pointed out a huge problem with financial markets right now. Unfortunately, his proposed solution could be bad news for stock investors.
Source
Originally published at www.fool.com.