[Warsh's confirmation hearing](https://www.cnbc.com/2026/04/21/kevin-warsh-fed-confirmation-hearing-trump-live-updates.html) has senators lobbing softball questions about Fed independence while completely missing the seismic shift happening beneath their noses. The energy sector's inflation-fueling cash machine is quietly shutting down. $XOM's revenue generating in operating cash flow tells the real story — the Fed's entire hawkish playbook just became obsolete.

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