President Trump’s Fed nominee Kevin Warsh appeared before the Senate Banking Committee today and passed with flying colors. It’s the best way I can put it. It may well be a new era for the Federal Reserve as Mr. Warsh outlined his long-held views that the central bank’s remit has grown too far and too wide and must be curbed.That its balance sheet of assets and liabilities should similarly be downsized, that it was never meant to be an overbearing central planning economic agency. And that monetary policy independence is essential. Yet it must be earned. In his testimony, Mr. Warsh said "low i...
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