Warsh arrives at the Fed during what looks like a perfect storm of challenges for monetary policy.
Making the case for rate cuts will be even harder at a time when energy costs have surged, pushing up headline inflation measures.
Unsurprisingly, the modeling indicates that headline CPI inflation is likely to edge higher and hold above 4% for the foreseeable future.
Core CPI is expected to follow a similar path, though at a lower level of roughly 3%‑plus.
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Winning Senate approval may be the easy part.
The path has been cleared for Kevin Warsh to become the next chairman of the Federal Reserve in mid-May, when Jerome Powell’s term ends. Sen. Thom Tillis cancelled his
