Kevin Warsh will impose a regime change after being appointed chairman of the Federal Reserve

"Kevin Warsh has spent the last decade yearning for the chairmanship of the Federal Reserve, a goal he has just achieved after Senate confirmation, thanks to the Republican majority. He succeeds Jerome Powell, a frequent target of Trump's attacks (both legal and verbal), whose term officially ends this Friday. Warsh, a millionaire, is poised to fulfill his dream at a crucial moment for the United States' central bank."

"Throughout his career, Warsh has left a visible trail of criticism directed at the Federal Reserve's organization and strategy. With well-crafted speeches, literary flourishes, and frequent historical references, he has launched scathing attacks against Powell and Fed officials. In a famous speech delivered in 2016, he criticized the groupthink of economists and central banks for fostering repetitive policies, flawed models, and disappointing economic outcomes."

"Quoting Copernicus and Ptolemy, he wrote: Economies do not die of old age; they die of policy mistakes. And he added, in what has become one of his mantras ever since: All economic models are wrong, but some are useful. Against balance sheet expansion He is already familiar with the institution."

"He was governor from 2006 to 2011 under Chairman Ben Bernanke. During that time, he served as the liaison between the central bank and Wall Street during the 2008 financial crisis, which brought the financial system to a standstill. A graduate in economics"

Kevin Warsh has been confirmed by the Senate to become chair of the Federal Reserve, succeeding Jerome Powell whose term ends this Friday. Warsh has long sought the role and previously was considered during Donald Trump’s first term, when Powell was ultimately chosen. Warsh has built a reputation for criticizing the Fed’s organization and strategy, including attacks on groupthink among economists and central banks. In 2016 he argued that economies fail due to policy mistakes and that economic models are wrong but can still be useful. He previously served as a Fed governor from 2006 to 2011 under Ben Bernanke, acting as a liaison to Wall Street during the 2008 financial crisis.

Read at english.elpais.com