Kevin Warsh, the new chairman of the Federal Reserve, has pledged to bring inflation back to its official 2% target. During his press conference on July 29, he emphasized that there is no flexible target, only the 2% goal. Wall Street appears to trust him, with markets anticipating average inflation of about 2.25% over the next decade. However, the article raises doubts about the Fed’s ability to achieve this target given the skyrocketing U.S. debt.
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