Inside the Fed: Powell vows he won't be a 'shadow chair,' but a Warsh clash will be tough to avoid

"One should expect that any further pressure on the Federal Reserve to cut rates due to the political cycle will result in a much further, a much more severe push back, not just by Jay Powell, but other members of the Federal Reserve," said Joseph Brusuelas, chief economist at RSM.The climate is ripe for further clashes at the FOMC, he added."This is what happens when one witnesses an assault on the central bank independence of the Federal Reserve," Brusuelas said. "I don't think that there will be a poisonous atmosphere on the Fed or an adverse relationship between Powell and Warsh.

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