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For two decades, the Federal Reserve has behaved less like a central bank and more like the nation’s emergency room physician, trauma counselor and part-time life coach. Markets sneeze, the Fed reaches for liquidity. Congress overspends, the Fed absorbs the debt. Asset bubbles inflate, then burst, and somehow the cure is always another round of … Read more
Federal Reserve nominee Kevin Warsh mocked Democratic Massachusetts Sen. Elizabeth Warren’s question during his Tuesday confirmation hearing. President Donald Trump nominated Warsh to replace Federal Reserve chair Jerome Powell, whose term officially ends on May 15. During the Senate Banking Committee’s confirmation hearing, Warren challenged Warsh to name one aspect of Trump’s “agenda” that he disagreed … Read more