The Warsh Doctrine: How the Fed’s Unanimous Pivot Signals a New Era of Hawkish Pragmatism
A unanimous 12-0 vote inside the Federal Open Market Committee is a rare demonstration of institutional alignment, particularly when delivering a policy surprise. By raising the benchmark federal funds rate by 25 basis points to a target range of 3.75% to 4%, Federal Reserve Chair Kevin Warsh has drawn a definitive line in the sand against entrenched inflation. The decision…
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