Fed Chair Kevin Warsh reveals October surprise inside interest-rate pause

Five months into his term as Federal Reserve chairman, Kevin Warsh has kicked off his promised “regime change” at the U.S. But he repeatedly sidestepped the question of why the Fed is keeping short-term borrowing rates steady if the majority of policymakers say the economy is strong and inflation remains too high. Markets expected the Federal Open Market Committee’s pause at its Oct. 27-28 meeting, despite hiking short-term interest rates by 25 bas.