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Warsh’s Concerning Interest In Redefining “Inflation”
As Kevin Warsh takes over as chair of the Federal Reserve, investors and financial media outlets are looking closely for any hints at how his appointment will impact monetary policy. One series of comments Warsh made while testifying to Congress back in April as a nominee has been getting more attention in recent weeks, following some high inflation reports. Essentially, Warsh signaled that he believed in focusing primarily on inflation data from core or even trimmed price indexes. To understand what that means or why it matters, it’s important to note that, originally, “inflation” was a term that simply meant ... (full story)