Three Things to Know About Next Possible Fed Chair Kevin Warsh

The move signals that the Trump administration is moving forward with its goal of naming the next chairman by the end of the year.
By Giovanni Bruno ,

President Donald Trump and Treasury Secretary Steven Mnuchin on Thursday met with former Federal Reserve governor Kevin Warsh to discuss his potential appointment as Chairman of the Federal Reserve, the Wall Street Journal reports.

Warsh is married to Jane Lauder, the granddaughter of Estée Lauder, the co-founder of the cosmetics company. His father-in-law, Ron Lauder, has been urging the White House to appoint Warsh.

The move signals that the Trump administration is moving forward with its goal of naming the next chairman by the end of the year. Current chair Janet Yellen's term expires in February, but she is still being considered for reappointment.

Other people being considered for the chair are University economist John Taylor and John Allison, the former BB&T Bank (BBT) - Get Report CEO. Allison was previously offered a seat as one the Fed governors, however, turned it down, according to the report. 

Here's a look at Warsh.

Member of President Trump's Strategic and Policy Forum

The group of leaders was appointed to give Trump perspectives from business leaders on how to create jobs and improve growth for the U.S. economy. The group was disbanded in August.

Noted Critic of Fed's Monetary Easing

Warsh in the past has warned that the Fed's policies of monetary easing could increase the risks of a financial bubble and has advocated for changes in how the Central Bank communicates with each other and the public.

"The conduct of monetary policy in recent years has been deeply flawed," Warsh wrote in an opinion piece published in the Wall Street Journal last month. He argued for "a rigorous review of recent policy choices and significant changes in the Fed's tools, strategies, communications and governance."

Critic of Fed Leadership

In June, Warsh contended that the Federal Reserve was in jeopardy of being dismantled if it did not make adequate changes from within. "The idea that we [the Fed] are a permanent fixture in the economy is mistaken," he said.

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