The US Federal Reserve is in need of reform: Is Trump’s appointee Kevin Warsh up to the challenge?
Warsh inherits an institution that, by any historical measure, is deeply fractured internally and lacks credibility externally. One need not look far for evidence. The minutes of the most recent policy meeting read like a thesaurus, with a long list of qualifiers —“a few,” “some,” “several,” “a number,” “many” and “the vast majority”—signalling an unusually wide dispersion of views within the policy-setting Federal Open Market Committee (FOMC).
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