Kevin Warsh, The Fed, And The Soft Bigotry Of Low Expectations
Key takeaways
- Policy Kevin Warsh, The Fed, And The Soft Bigotry Of Low Expectations By John Tamny,
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- Warsh succeeds Jerome Powell, who served as Chair for eight years.
Policy Kevin Warsh, The Fed, And The Soft Bigotry Of Low Expectations By John Tamny,
--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.Summary Conservatives are celebrating newly installed Fed Chair Kevin Warsh for rejecting the Phillips Curve, which posits economic growth causes inflation. The author deems this praise condescending, as such understanding is basic for a Fed Chair, especially given conservatives previously backed Ben Bernanke, who held opposing views. The piece challenges conservatives to clarify their definition of inflation, arguing they often incorrectly blame government spending or "excess demand." It highlights that if inflation is a decline in the unit of measure, the strong dollar and stable gold prices during the "Bidenflation" era contradict their claims of high inflation. The article suggests conservatives should press Warsh on his precise definition of inflation, particularly concerning the dollar's exchange value.
WASHINGTON, DC - MAY 22: Chairman of the Federal Reserve Kevin Warsh arrives to his swearing-in ceremony to be the new Chairman of the Federal Reserve in the East Room of the White House on May 22, 2026 in Washington, DC. Warsh succeeds Jerome Powell, who served as Chair for eight years. (Photo by Anna Moneymaker/Getty Images)Getty ImagesConservatives are falling all over themselves to cheer newly installed Fed Chairman Kevin Warsh’s disdain for the Phillips Curve. Which explains the title of this opinion piece.