New Fed Chair Kevin Warsh May Face the Central Bank’s Worst Nightmare: Stagflation
It’s been a history-making month in more ways than one for Wall Street. We’ve witnessed the Dow Jones Industrial Average (^DJI +0.72%), S&P 500 (^GSPC +0.22%), and Nasdaq Composite (^IXIC +0.20%) all romp to record-closing highs. We also observed a rare changing of the guard at America’s foremost financial institution, the Federal Reserve. May 15…