The New Fed Chair Just Rejected the Idea That Your Raise Causes Inflation
· finance.yahoo.com
Kevin Warsh just told the market that the Fed has been blaming the wrong culprit for inflation for decades, and if he is right, the playbook for rate hikes, growth stocks, and the entire AI capital cycle changes with it.
Quick Read
Warsh scrapped the Phillips curve dogma, blaming fiscal deficits and money creation for inflation rather than worker paychecks or a hot labor market...