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Fed Changes: when Bureaucrats Discuss Crab Immortality
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Jerome Powell led his last meeting at the head of the Federal Reserve (Fed) of the United States on Wednesday, April 29. Kevin Warsh, the nominee to succeed him, is an economist and former head of monetary policy who served as a member of the Board of Governors of the Fed from 2006 to 2011. Warsh’s preference for the PCE (Personal Consumption Expenditures, Price Index) cut, as a measure that bureaucrats use to estimate inflation, instead of the …
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