Source: 30dB.com – Kevin%20Warsh
The Fed, whose duties include overseeing and regulating banks and maintaining the stability of the financial system, has been led by Chairwoman Janet Yellen since 2014. But now it’s President Donald Trump’s turn to pick the Fed’s leader. The frontrunner is Kevin Warsh, a former Fed employee and fiscal conservative who once quit the Fed over disagreement with its policies. He’s currently achieved 74 percent positive sentiments, but those numbers don’t mean Social is supportive. His high positives more likely mean that, for better or worse, Social is convinced he’ll get the gig. And according to some market analysts, “worse” is the right investment. MarketWatch says that Warsh is a weird pick for Trump’s job-creation agenda since Warsh was one of the strongest critics of former Chairman Ben Bernanke’s quantitative easing measures, which are largely credited with stabilizing the economy after the 2008 financial crash. CNBC also warned that interest rates will get higher once Warsh takes the wheel. And Seeking Alpha said that a Warsh nomination could mean a stronger dollar, which isn’t great for trade but could slow inflation. –Hugo Guzman
Republished from 30dB
