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Analysis: What might trip up Kevin Warsh and his agenda as Fed chair
Oil prices are surging. Inflation forecasts are rising. Futures markets increasingly raise the chances of a rate hike from the Federal Reserve. And then there’s Kevin Warsh and his stated desire — and edict from President Donald Trump — to cut interest rates. Even before a hearing is scheduled on his nomination as the next Fed chair, Warsh’s ambitious agenda for “regime change” at the Fed faces challenges. The most obvious: $100-a-barrel oil prices and the incipient inflation threat they pose run counter to Warsh’s hopes to sharply reduce interest rates. But the challenges go further. The new chair, ... (full story)