Kevin Warsh to chair the Fed
-
This was from an earlier analyses of potential candidates.
Kevin Warsh
Warsh has been a frontrunner for Trump’s Fed chair for almost a decade, having narrowly lost out to Jay Powell back in 2017.Once again, the CV looks plausible. Warsh briefly worked as an investment banker at Morgan Stanley, but then served on the National Economic Council under George W Bush, who then nominated him for a Fed governorship in 2006 despite just being 35 years old at the time.
During the global financial crisis he proved an able sidekick to Fed chair Ben Bernanke, who said in his memoirs that Warsh was one of his “most frequent companions on the endless conference calls through which we shaped our crisis-fighting strategy”.
However, many investors and economists who Alphaville has spoken to are unimpressed by his candidacy. They say the reality is that he is a lightweight, instinctive hawk who has desperately tried to reinvent himself as a dovish Trump devotee to win a job that on pure merit he probably shouldn’t be anywhere near.
But he’s married to the daughter of Trump megadonor and fellow Greenland fan Ronald Lauder, and he’s got that central casting look that the president is fond of, so obviously he’s one of the leading contenders.
Dovishness:
️ / ️️️ (because, really, who knows for sure)
Trumpism:
Freakout potential: 🤮🤮
