US President Donald Trump’s nominee to chair the Federal Reserve, if confirmed, will need to navigate choppy economic currents while facing threats to the central bank’s independence.
Former Fed Governor Kevin Warsh would need to go from critic to reformer, after blasting the Fed for years over its balance sheet and what he deems groupthink.
His background is in law and finance, not economics, and he has more “eclectic” explanations for inflation than the Fed’s staff, The Wall Street Journal wrote, though economists have differed over whether Warsh’s leadership would match his caustic rhetoric.
First, though, he has to make it through the Senate’s vetting; one Republican lawmaker pledged to oppose Trump’s appointments until authorities stop investigating the Fed.