Skip to main content
RealClearPolitics

RealClearPolitics

Newspaper | United States | Centre

Engagement Insights

1.81 score
74
Discussions
5
Participants
18
Total Votes
1034
Articles

Discussions from RealClearPolitics

Geopolitics

What changes might happen in Iran if the current government ends?

Our friend Roger Kimball, an optimist, describes the Last Days of the Iranian Regime. As Roger argues, the regime’s condition is indeed dire: The war is over. If this were a novel, we’d be in epilogue territory where we tie up some loose threads in the plot and learn about the fates of various characters. *** The naval blockade, which interdicts shipping to and from Iranian ports, is costing the

United States
Economy

What effects could Kevin Warsh's leadership at the Federal Reserve have on the economy and everyday people's lives?

The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday."Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't look at anybody. Just do your own thing and do a great job," Trump said at Warsh's swearing-in ceremony. What they're saying: "Our mandate at the Fed is to promote price stability and maximum employment," Warsh said. "When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher, and America can be more prosperous, and no less important, America's place in the world more secure.""To fulfill this mission," he added, "I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes, both escaping static frameworks and models, and upholding clear standards of integrity and performance." The intrigue: Not long before Warsh was officially sworn into the post, Fed governor Christopher Waller gave a notable speech that cemented his hawkish pivot. Just months ago, he was a leading advocate for rate cuts to boost what he saw as a souring labor market. Waller's speech, aptly titled "Policy Risks Have Changed," suggests his view has flipped.Waller said it might be appropriate to strip the Fed's policy statement of its "easing bias" language, aligning with a group of Fed presidents who dissented last month over the inclusion of such a signal. Zoom i

United Kingdom
Economy

What are the important things we should consider about Kevin Warsh's nomination as Fed chair?

At Kevin Warsh's Fed confirmation hearing today, Republicans will cast him as a change agent ready to shake up a tradition-bound institution. Driving the news: In remarks introducing Warsh obtained by Axios, Sen. Dave McCormick (R-Pa.) will say the onetime Fed governor "brings a reformer's heart" and "will shake up a stagnant institution at a time when change is sorely needed." It echoes some of Warsh's own criticisms of the Fed, saying that the central bank "must not be ruled by pointy-headed economists poring over outdated models and reams of market data."Democrats on the Senate Banking Committee plan to focus on potential conflicts of interest stemming from Warsh's expansive portfolio, which includes some investments that could be affected by Fed policy. They also intend to question his independence from President Trump. State of play: Warsh's nomination is broadly supported by Republicans and opposed by Democrats — putting his confirmation on track to be a more partisan affair than in the past. Just four years ago, Jerome Powell received 80 votes in favor of his confirmation. Alan Greenspan was confirmed five times by voice vote.Still, Republicans have the votes to confirm Warsh — or will, that is, if a Justice Department investigation into Powell that is ostensibly about the Fed's over-budget building renovation is resolved.Sen. Thom Tillis says the investigation is a pretext to pressure Powell over monetary policy — a view shared by a federal judge as well as Powell himself. Tillis has pledged to block Warsh's passage through the banking committee until the investigation is dropped. Zoom out: Powell's term is up May 15 and the Trump administration is eager to get him out. McCormick's planned introduction shows the support he has among Republican senators. What they're saying: "If confirmed, Kevin will inherit a Federal Reserve in need of repair and confronting serious uncertainty," McCormick will say, noting "an overextended balance sheet; a poor record on inf

United States