Claudia Sham
Kevin Warsh’s speech at Jackson Hole was the introduction to the Fed Chair we deserved. In two weeks, the real work begins.
Kevin Warsh’s speech last Friday in Jackson Hole was a good one. It was the speech he needed to give. Warsh opened with AI—100% human-written text, I checked. Then he turned to his arguments against forward guidance, his seven principles of monetary policy, and closed with a discussion of how he sees the economy now, including his first analysis of inflation data. Warsh came down from 30,000 feet and found firmer footing. The speech was true to Kevin Warsh, and it was the first time he sounded like a Fed Chair. That’s only the first step to being a good Chair, but an important one.
Πηγή: https://stayathomemacro.substack.com/p/welcome-mr-chairman