U.S. stocks rose, sending the Standard & Poor’s 500 Index trading to another record, as consumer confidence gained and investors bet central banks worldwide will continue their efforts to stimulate the economy.
Former Federal Reserve Governor Kevin Warsh said the central bank will probably press on with its “aggressive” easing as growth this year may fall short of the pace needed to put millions of Americans back to work.
Federal Reserve Governor Kevin Warsh ’s departure may reduce the Wall Street intelligence that Chairman Ben S. Bernanke gathers as he weighs policy options following record easing, former central bank officials said.
Federal Reserve Governor Kevin Warsh , who was one of Chairman Ben S. Bernanke ’s closest financial-crisis advisers before becoming the only governor to question the expansion of record monetary stimulus in November, resigned after five years at the central bank.
Former Federal Reserve Governor Kevin Warsh said the central bank’s record monetary easing may set back the U.S. economic expansion and that he’s concerned policy makers are pushing investors into riskier assets.
Federal Reserve Governor Kevin Warsh said he’s concerned the central bank’s expansion of record stimulus may spark too much inflation, fail to aid growth and delay any plans to reduce U.S. indebtedness.
Senior Federal Reserve officials including Chairman Ben S. Bernanke warned in August 2007 that investor confidence in credit rating companies was fading, risking greater instability in financial markets.