Introduces topic of Kevin Warsh as potential Fed chair pick and market reaction.
Matt Miller
Michael McKee
Kevin Warsh is a former Fed governor with monetary policy experience and Wall Street familiarity, but known as a big hawk and Fed critic.
Michael McKee
Warsh wants the Fed to concentrate on inflation overall, have a smaller balance sheet, get out of mission creep, and reduce overcommunication.
Michael McKee
Interest rates will come down if inflation comes down, and Warsh can follow inflation rules and maybe be more aggressive once inflation comes down.
Michael McKee
Warsh has argued for operational independence but is willing to work with Treasury Department for cooperation.