This week, Kevin Warsh becomes chair of the U.S. Federal Reserve Board of Governors. We expect he will take a thoughtful but distinctive approach to monetary policy and seek, over time, to shift Fed strategy in several areas. But any change will be evolutionary, not revolutionary. Meanwhile, Warsh joins the central bank during a period of macroeconomic turmoil. U.S. inflation remains above the Fed’s stated target, pressured by geopolitical conflict and energy prices. Labor markets have shown resilience but also face uncertainties on several fronts – including a transformative technology, AI, with the potential to ... (full story)