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Trump picked Kevin Warsh for Fed chair, the first big market change may be the way the Fed talks
When Donald Trump says Jerome Powell “got it wrong,” he usually means one thing: rates should have come down faster.
Powell, for all the heat he takes, has still been a fairly standard Fed chair. He speaks like a central banker.
He repeats himself on purpose. He tries to keep the Fed’s message boring, even when the numbers are doing anything except boring.
That boring style is a feature for markets….
