“ If at some point all the Fed’s internal models suggest inflation risks are high and rate hikes are necessary, but at the same time Trump is screaming for rate cuts because he wants to survive the midterms, how will Warsh react?
Senators should have asked that. Warsh should have to answer. Because the public deserves to know.”
Senators should have asked, but there is a high probability that they would have received a bullshit answer. Why do amoral nihilists dominate the most powerful positions in government? The public should be disgusted by our self-focused, power hungry, “public servants.” Instead, they bathe in cynicism, the way a fish lives in water.
the thing that stuck in my craw was when he chastised the fed for getting into politics, and said it should focus on just interest rates.
sounds a bit like j.d. lecturing the pope. saying the fed isn't involved in politics is disingenuous. when he defines 'politics' as caring about climate change, he's dangerous.
he told the fed to stay in their lane; not doing something about the death of the planet and the associated costs that distort the economy, just doing something about making stockholders richer.
The president's nominees feel no need to persuade senators of their fitness or provide sincere responses so long as administratiom-compliant Republicans dominate.
Another display of fairly skilled tight rope walking. No matter the technical qualifications, the litmus test for a Trump nominee is more than clear at this stage - the willingness to trade spine and principles for position and power. So, we either get competent but compromised or incompetent and compromised - both are compromised. To Kevin Warsh - Jerome Powell set the ethical bar for a Federal Reserve Chair, your job is to chin that bar.
Good writing! You have presented a relaxed but comprehensive perspective to consider as to what Kevin Warsh's potential weaknesses and downsides could be, well worth thinking about.
We can change Rick's paradigm of 'Anything Trump Touches Dies' to 'Nothing That Touches Trump Survives.'
It doesn't matter if Kevin Warsh has integrity or not (he does not have it in my personal opinion). What we can be sure is that by 2028, everyone knows he is available for hire just like other Trump cabinet members.
All anyone needs to know about Warsh, including our lunk headed legislators, is that he said, as quoted above, that he did not put his ambition above his principles. Now he does the opposite with his mealy mouthed response about facts and opinions. Exactly what you want to hear from the proposed head of the last and most important independent agency.
Warsh was in the Epstein files. Bird of a feather, flock together: Warsh, Nutlick and Trump, none of them had a problem with a serial child rapist. When will we get rid of these monsters.
No, you're not being cynical. You're asking the right questions and point out the obvious dodge answer provided by Warsh. Any nominee put up by Trump should be assumed to be a loyalist (Trump's first criteria). I have a hard time understanding the Washington Post's editorial board support for Warsh, published just today. This guy is suspect until proven otherwise.
An independent Federal Reserve is THE ONLY monetary, financial bulwark against a medium or long-term financial catastrophe for our USA under the erratic, corrupt, fiscally irresponsible Executive Branch leadership of Donald Trump and the equally fiscally irresponsible majority of Republican and Democratic party Congressional Representatives and Senators. Warsh has already surrendered his personal convictions about the priority responsibility of the Federal Reserve to control inflation to gain favorable attention during Trump's first term and the Fed. Chair nomination by President Trump now. Warsh lied or spoke unconvincingly during his confirmation hearing about President Trump pushing for lower interest rates during his interview. Is it possible that Trump was lying afterward when he said that he did discuss lower interest rates? Certainly. However, Warsh crumpled under the pressure of his confirmation hearings which isn't encouraging.
The simple fact that Trump nominated Kevin Warsh to be Fed Chairman tells you he will vote to cut interest rates when the president demands it. If Trump believed otherwise he would not have nominated Warsh. Sadly Harsh failed to show spine by refusing to confirm that Trump lost the 2020 election. The dilemma is that Trump will never nominate anyone to the Fed that he didn't belive would be compliant to lower rates when demanded to do so. Kevin Warsh may be the best we can hope for with Trump in office.
“ If at some point all the Fed’s internal models suggest inflation risks are high and rate hikes are necessary, but at the same time Trump is screaming for rate cuts because he wants to survive the midterms, how will Warsh react?
Senators should have asked that. Warsh should have to answer. Because the public deserves to know.”
Senators should have asked, but there is a high probability that they would have received a bullshit answer. Why do amoral nihilists dominate the most powerful positions in government? The public should be disgusted by our self-focused, power hungry, “public servants.” Instead, they bathe in cynicism, the way a fish lives in water.
the thing that stuck in my craw was when he chastised the fed for getting into politics, and said it should focus on just interest rates.
sounds a bit like j.d. lecturing the pope. saying the fed isn't involved in politics is disingenuous. when he defines 'politics' as caring about climate change, he's dangerous.
he told the fed to stay in their lane; not doing something about the death of the planet and the associated costs that distort the economy, just doing something about making stockholders richer.
thanks for telling us who you really are.
The president's nominees feel no need to persuade senators of their fitness or provide sincere responses so long as administratiom-compliant Republicans dominate.
Another display of fairly skilled tight rope walking. No matter the technical qualifications, the litmus test for a Trump nominee is more than clear at this stage - the willingness to trade spine and principles for position and power. So, we either get competent but compromised or incompetent and compromised - both are compromised. To Kevin Warsh - Jerome Powell set the ethical bar for a Federal Reserve Chair, your job is to chin that bar.
Good writing! You have presented a relaxed but comprehensive perspective to consider as to what Kevin Warsh's potential weaknesses and downsides could be, well worth thinking about.
We can change Rick's paradigm of 'Anything Trump Touches Dies' to 'Nothing That Touches Trump Survives.'
It doesn't matter if Kevin Warsh has integrity or not (he does not have it in my personal opinion). What we can be sure is that by 2028, everyone knows he is available for hire just like other Trump cabinet members.
Great question! What is wrong with these lawmakers on both sides???
What clearly written articles. Thanks for helping us non-financial types understand this stuff.
If John Quincy Adams could take a seat in the House after his Presidency, surely Powell can change seats at the Fed.
All anyone needs to know about Warsh, including our lunk headed legislators, is that he said, as quoted above, that he did not put his ambition above his principles. Now he does the opposite with his mealy mouthed response about facts and opinions. Exactly what you want to hear from the proposed head of the last and most important independent agency.
Warsh was in the Epstein files. Bird of a feather, flock together: Warsh, Nutlick and Trump, none of them had a problem with a serial child rapist. When will we get rid of these monsters.
Walsh made it clear he's the errand boy for Trump. He'll do as he's told. He gave up all integrity and ethical courage to get nominated for the job.
No, you're not being cynical. You're asking the right questions and point out the obvious dodge answer provided by Warsh. Any nominee put up by Trump should be assumed to be a loyalist (Trump's first criteria). I have a hard time understanding the Washington Post's editorial board support for Warsh, published just today. This guy is suspect until proven otherwise.
Bezos is a Trump flunkie. As difficult as it has been, I got rid of my Prime.
Me too. It's tough sometimes, but my principles override convenience. My friends and family make fun of me.
The WaPo editorial board is not what it once was.
An independent Federal Reserve is THE ONLY monetary, financial bulwark against a medium or long-term financial catastrophe for our USA under the erratic, corrupt, fiscally irresponsible Executive Branch leadership of Donald Trump and the equally fiscally irresponsible majority of Republican and Democratic party Congressional Representatives and Senators. Warsh has already surrendered his personal convictions about the priority responsibility of the Federal Reserve to control inflation to gain favorable attention during Trump's first term and the Fed. Chair nomination by President Trump now. Warsh lied or spoke unconvincingly during his confirmation hearing about President Trump pushing for lower interest rates during his interview. Is it possible that Trump was lying afterward when he said that he did discuss lower interest rates? Certainly. However, Warsh crumpled under the pressure of his confirmation hearings which isn't encouraging.
The simple fact that Trump nominated Kevin Warsh to be Fed Chairman tells you he will vote to cut interest rates when the president demands it. If Trump believed otherwise he would not have nominated Warsh. Sadly Harsh failed to show spine by refusing to confirm that Trump lost the 2020 election. The dilemma is that Trump will never nominate anyone to the Fed that he didn't belive would be compliant to lower rates when demanded to do so. Kevin Warsh may be the best we can hope for with Trump in office.
I think Warsh will do whatever Trump says. I’m concerned