Societe Generale’s perma-bear Albert Edwards believes he has seen the future of US economic policy in a man called Kevin, or more specifically Kevin Warsh, who was the youngest ever Fed governor at 35 when he was appointed in 2006.
Albert Edwards: Debt, Summers and Kevin?
In his weekly Global Strategy research note, Edwards writes that he was highly impressed by the views of Governor Warsh, who was speaking at last week’s Bank Credit Analyst annual conference. Warsh was at the Fed from 2006 to 2011 and played a key role in navigating the Fed through the crisis. Today, the former Fed governor believes that the central bank has lost its way and current policy is deeply flawed. Specifically, Edwards writes:
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