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Kevin Warsh says the Federal Reserve's leadership is broken, but his remedy is not simple easy money. Michelle and Vox unpack the mix of lower short rates, a smaller balance sheet, less model-heavy guidance, and what that could mean for dollar credibility, long yields, and the next U.S. policy regime.
By VoxKevin Warsh says the Federal Reserve's leadership is broken, but his remedy is not simple easy money. Michelle and Vox unpack the mix of lower short rates, a smaller balance sheet, less model-heavy guidance, and what that could mean for dollar credibility, long yields, and the next U.S. policy regime.