FEDERAL RESERVE

• Kevin Warsh and the Return of Monetarism
  By Jon Hartley and Peter Ireland | The new Fed chair believes inflation is linked to money. That will serve him well.
• Grading Jerome Powell’s Fed: Good for Stocks, Bad for Affordability
  By Randall W. Forsyth | One result of the massive monetary expansion was an upsurge in inflation, to a peak of over 9% in 2022—which the Fed infamously termed “transitory.”