New Fed Chair Kevin Warsh Recently Said 36 Words That Could Forever Change the Fed's Relationship With the Stock Market
Yahoo Finance ·
From the moment the Senate confirmed Kevin Warsh as the newest chair of the Federal Reserve's Board of Governors, most Fed watchers could clearly see that change was coming. However, it wasn't clear just how quickly things could change until Warsh's first meeting as chair of the Federal Open Market Committee (FOMC), which sets monetary policy. Warsh took several notable steps at the FOMC's June meeting that have begun to lay the groundwork for what appears to be a clear-cut regime change. Warsh just said 36 words that could forever change the Fed's relationship with the stock market. Since the Great Recession, the Federal Reserve has been much more communicative with the public, probably because the public lost much of its faith in the mainstream financial system after the events of 2008, which destroyed trillions of dollars in wealth and altered the trajectories of many people's lives.
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