Kevin Warsh, President Trump’s nominee to replace Fed Chair Powell, no doubt will lean toward dovish policy-making, under pressure from the President to convince the rest of the FOMC to err on the side of easing. But the timing of Warsh’s confirmation is uncertain. Today, Dr Ed along with our new contributing editor Elias Griepentrog take us on a thought experiment: Under three alternative scenarios for the length of the Iran war, they project the economic impacts and associated ramifications for monetary policy under Warsh’s leadership versus that of Powell. … Also: They share eight takeaways from the FOMC’s March meeting. ... And Dr Ed reviews “The Secret Agent” (- – -).
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