"If confirmed by the US Senate, Warsh, a former Federal Reserve governor, will replace Jerome Powell after his term ends in May. Trump announced Warsh as his nominee on Friday. I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best, Trump posted on his Truth Social site. On top of everything else, he is central casting,' and he will never let you down."
"Over the past year, Trump has repeatedly lambasted Powell for not lowering interest rates at a pace and to a level of his liking. Warsh is expected to have a smoother experience at least initially. That's partly because he comes from a Republican milieu. His father-in-law is Ronald Lauder, heir to the Estee Lauder cosmetics fortune and a longtime Trump donor and ally."
"After years of supporting high interest rates to control inflation, Warsh has made recent statements arguing for lower rates, in line with the president's views. It is this flexibility that has prompted a mixed bag of reactions to Warsh's nomination. He's a very good chameleon, said Skanda Amarnath, executive director of Employ America, a policy research organisation. He comes across as informed and intellectual, but when you unpack what he says, there's not a lot there. Amarnath's criticism was based on years of observing Warsh's policy stance."
Kevin Warsh was nominated by President Donald Trump to replace Jerome Powell as Federal Reserve chair pending Senate confirmation. Warsh is a former Fed governor, Hoover Institution fellow, and Stanford visiting scholar with Republican connections including father-in-law Ronald Lauder. Trump praised Warsh on Truth Social. Observers note Warsh previously supported high interest rates to fight inflation but has recently advocated lower rates, aligning with the president's preferences. Supporters expect an initially smoother relationship with the White House; critics accuse Warsh of political pliability and call him a ‘chameleon,’ questioning the substance behind his public pronouncements.
Read at www.aljazeera.com
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