One Word Repeated 10 Times by Fed Chair Kevin Warsh Has Effectively Reshaped the Central Bank's Monetary Policy Approach
Kevin Warsh delivers "shock" while leaving Wall Street in awe.
Overview
This has been a transformational year for America's foremost financial institution, the Federal Reserve, as well as the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC), given that the Fed has always been viewed as a stabilizing force by Wall Street.
On May 22, President Donald Trump's handpicked successor to Jerome Powell, Kevin Warsh, was officially sworn in as only the 17th head of the central bank since its inception in December 1913. But this is far from the only history the Fed has made this year.
Fed Chair Kevin Warsh is reshaping how policymakers think about inflation. Image source: Official Federal Reserve Photo.
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Originally published at www.fool.com.