Warsh managed to rein in some of the madness sweeping central banks. Not all of it.
Donald Luskin on the Wall Street Journal Editorial Report
Saturday, June 20, 2026
TrendMacro CIO Donald Luskin talks with Paul Gigot about the debut FOMC meeting for Fed chair Kevin Warsh.
Update to Strategic View
Was Warsh's commitment to price stability a form of "forward guidance"? Or given Warsh's preference for "trimmed mean" inflation measures, currently at just 2.3%, are we already there? With knives out for him at the Fed, Warsh is moving slowly to build consensus for an ambitious reform program. His renunciation of the Phillips Curve canard that growth causes inflation already makes him one of the most consequential Fed chairs in history.