Carlyle co-founder David Rubenstein said investors should expect changes at the Federal Reserve under incoming chair Kevin Warsh, including less communication with markets.
But Warsh has a lot to prove on the Fed independence front, he added.
“I think what the market is waiting to see is this: When pressure comes for Kevin Warsh to lower interest rates from the president, will he say, ‘Look, we just can’t do it right now,’ or will he say, ‘Well, that’s what you want to do, we’ll do it,’” Rubenstein told Yahoo Finance at the Milken Institute Global Conference.
Brian Sozzi | Yahoo Finance