Is Kevin Warsh’s Silence The Beginning Of The End For The Fed?

Kevin M. Warsh, who has said the Federal Reserve has “no tolerance” for elevated inflation, must decide whether he wants to push for an interest-rate increase at this week’s policy meeting.

Let’s get this out of the way right away: It’s highly unlikely the Federal Reserve will raise interest rates when policymakers meet this week after the latest data showed inflation has slowed. Plus, the five task forces that new Fed Chair Kevin Warsh announced, to much fanfare,…

Implied in the silence is what's true, that the Fed isn't necessary.