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But we saved everything 🙂.
Joseph Wang highlights that Warsh’s opening statement conceptualizes Federal Reserve independence as autonomy specifically in setting interest rate policy.
Wang also notes that this interpretation suggests other areas like foreign exchange swap lines or public debt duration policies may not fall under the same autonomy. This framing could have implications for how different facets of central bank policy are approached in discussions of independence.
Wang has addressed market behavior in prior commentary. He observed that gold and equities have stopped moving together after tracking each other in recent sessions. In another update, Wang reviewed market challenges following an Iranian victory and concerns over multipolarity.