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Fed Chair Apprentice
From stayathomemacro.substack.com
Tuesday, April 21, is a day Kevin Warsh has long awaited: his Senate confirmation hearing for Fed Chair. He lost out on Trump’s nomination to Jay Powell eight years ago. This time, he won the nod and is on track to replace Powell next month. Or is he? At his hearing, Warsh must maintain his support among Republican Senators, avoid rattling financial markets, and convince President Trump to pull the plug on the Department of Justice’s criminal investigation of Powell. Otherwise, Fed Chair could slip through Warsh’s fingers once again. There’s nothing normal about this season of Fed Chair Apprentice, and it is ... (full story)
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The Federal Reserve has entered its quiet period ahead of the 29 April FOMC meeting, but it will still be drawing headlines given Kevin Warsh's confirmation hearing to become Federal Reserve Chair is being held tomorrow. Once viewed as a hawk when he previously served as a Fed Governor (February 2006-March 2011), he has been nominated by President Trump, ...