Newssos
Kevin Warsh assumes the chairmanship of the Federal Reserve at its interest rate meeting, stepping into the role at what officials describe as a critical juncture for the U.S.
Inflation has risen to its highest level in more than three years, handing the incoming chairman a central bank already under strain before he has set policy of his own.
A Difficult Starting Point Warsh inherits a policy environment shaped by his predecessor, with price pressures running at a pace not seen in over three years.
That backdrop narrows the room for maneuver at the outset: a chairman arriving during a low-inflation period can spend early meetings building credibility; one arriving during an inflation spike is immediately called to account.
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