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Trump's "Sock Puppet"
Trump's "Sock Puppet"
By Philip Marey of Rabobank
Summary
The confirmation hearing of Fed Chair nominee Kevin Warsh by the Senate Banking Committee was a very partisan affair.
In his prepared remarks, Warsh stressed that monetary policy independence is essential, but he does not believe that the operational independence of monetary policy is particularly threatened when elected officials state their views on interest rates. Warsh thinks the Fed must stay in its lane and avoid straying into fiscal and social policies.
Warsh was walking a tightrope between convincing the Senate Banking Committee that he...
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