Key Points
- Kevin Warsh, President Donald Trump’s pick as the next Fed chair, is a central bank veteran, serving during the critical period of 2006 to 2011 that led up to and ultimately through the global financial crisis and the central bank’s efforts to stabilize the economy.
- Trump cited Warsh’s extensive background in announcing his appointment to the top Fed post Friday morning. “On top of everything else, he is ‘central casting,’ and he will never let you down,” Trump said.
- But if Trump thinks Warsh will be able to just push through aggressive rate cuts with ease, he might have an unpleasant surprise in store.
