Neil Irwin
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🌐 axios.comSource
The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal
🌐 axios.comSource
For most of this century, rich countries have enjoyed a seemingly free lunch: They could spend money as needed, cut taxes at will and stimulate their way out of problems without paying a price in the form of higher borrowing costs or inflation. The big picture: That era is over.
🌐 axios.comSource
America's dependence on imported manufactured goods looks like a vulnerability in a world of widening geopolitical fractures. Fixing it won't come cheap. The big picture: New research from McKinsey, the global consulting firm, estimates that it would take $2 trillion, or about 6%
🌐 axios.comSource
From Axios: What to look for in Kevin Warsh's big day on Capitol Hill