NewsSOS
Kevin Warsh faces a pointed public challenge: explain the argument that the Federal Reserve is structurally incapable of fighting what economists classify as inflation.
The claim, as put, is categorical — the Fed could not combat what economists incorrectly deem inflation even if it wanted to.
A Definitional Challenge, Not a Policy One The argument directed at Warsh operates at the level of diagnosis before it reaches prescription.
Critics contend that economists have mislabeled the underlying price pressures — meaning the Fed's standard toolkit is deployed against a condition it has misidentified.
Keep reading