Warsh will formally succeed Fed Chair Jerome Powell, whose eight-year tenure was marked by several economic crises and a heated clash with the White House to defend the US central bank’s political independence.
Warsh was confirmed in a 54-45 vote, mostly split along party lines, with only Democratic Sen. John Fetterman of Pennsylvania crossing the aisle to vote in favor of Warsh’s nomination. It was the most partisan vote for a Fed chair nominee in history.
Inflation alone does not make your debt more payable. You’re banking on a pay raise in the most worker hostile government and market since the labor rights movement began. If you think those in charge wont make sure you’re doing worse off comparatively so they can do better you haven’t been paying attention.
Raises today don’t outpace inflation what makes you think they will start once we put dumber people in charge?
If we get really bad inflation and pay doesn’t go up then landlords are going to stop getting Revenue. People will stop showing up to work because their paychecks are meaningless, grinding the economy to a halt