Warsh Wants New Fed. Markets Are Not Sure

Kevin Warsh, the new chairman of the Federal Reserve, has made clear that he intends to change the way monetary policy works. After five years of inflation running above the Fed’s target rate of 2 percent and sustained criticism of the institution by the president who appointed him, that purpose has some logic. Why then have financial markets reacted with seeming skepticism, and what are the prospects for success? Read Full Article »