Not the Economy Kevin Warsh Wanted to Inherit

“Kevin Warsh won the Fed chair nomination with a double-barreled policy agenda for the central bank: lower interest rates and a smaller Fed balance sheet. As he takes the reins, economic conditions will make it tough for him to achieve either of those goals,” the Wall Street Journal reports.

“A troubling rise in inflation over the past two months has left Fed policymakers in no mood to deliver the rate cuts that President Trump has demanded. The job market has shown signs of stabilizing, further undercutting the case for easing.”