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Photo illustration: Sarah Grillo/Axios. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images
Federal Reserve chairman Kevin Warsh is attempting a high-wire act: He's trying to fundamentally rethink the central bank's approach to guiding the economy, while also using its standard policy toolkit to bring down stubbornly persistent inflation.
The big picture: Markets sold off and the economic commentariat was sharply critical of a Warsh press conference on July 29, in which he was vague about the possibility of raising interest rates to combat inflation.
