PETER NAVARRO: Powell’s shadow Fed majority could threaten jobs, housing and growth

Kevin Warsh has been sworn in as the new Federal Reserve Chair, but outgoing Chair Jerome Powell remains on the Fed Board, potentially enabling him to act as a 'shadow chair' and push for rate hikes despite concerns about an oil-price shock. The article argues that rate hikes would worsen economic vulnerabilities in housing, manufacturing, and small-business credit, citing historical precedents where past Fed chairs like Alan Greenspan and Ben Bernanke cut rates during oil shocks.