Fed, Warsh
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The real problem with inflation isn't Kevin Warsh -- and it might be beyond his power to fix it anytime soon.
The Fed Chair has argued that the technology will calm inflation and unlock productivity.
Fed Chairman Kevin Warsh is up against it.
Fed Chair Kevin Warsh faces a rates trap as inflation stays above 3%, markets price in a September hike, and political pressure mounts for lower
"Kevin Warsh has a conundrum," Macquarie global macro strategists Thierry Wizman and Gareth Berry wrote in a recent note. They noted that he can either follow the White House's appeal to not raise rates or "go with the internal flow and accede to the majority's wishes for a hike."
The SPDR Gold Shares (NYSEMKT: GLD), an exchange-traded fund (ETF) that is backed by spot gold, closed 18% below its Jan. 29 all-time high on Sept. 8. If Warsh fails to regain the market's belief in the Fed's resolve in the fight against inflation, expect the price of gold to rise further.