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Powell's Departure Sparks Concern Over Shadow Fed Majority Threatening Economy and Jobs
Kevin Warsh's appointment as new Federal Reserve Chair signals a shift away from Jerome Powell, who has refused to leave the Fed Board of Governors, potentially threatening jobs, housing and economic growth.
Kevin Warsh has been sworn in as the new Federal Reserve Chair, taking over from Jerome Powell who refused to leave the Fed Board of Governors. This development may lead to a shift in policy under a majority of the shadow Fed, potentially threatening jobs, housing, and economic growth. The move breaks with the modern custom of departing Fed chairs leaving the board, sparking concerns about continuity and stability. Warsh is likely to bring a more hawkish tone to monetary policy.
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