ExclusiveDow Drops 600+ Points After Fed's Surprise Move

President Trump appointed Kevin Warsh to lead the Fed with the expectation of lowering interest rates to spur growth. Yet, in his very first major decision, Warsh voted unanimously with the board to hike rates to combat sticky inflation. Why did Trump's own Fed Chair back higher interest rates? How does the Fed's independence limit presidential control? And what does this mean for mortgages, credit card debt, and the upcoming midterm elections?

Young Voices. New Lens.
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