Kevin Warsh confirmed new Fed chair as inflation kicks higher, complicating the central bank’s path
Warsh was just confirmed on almost an exact party line vote.
But last time he served on the Fed he was voted out of Committee with a 20-0 vote and confirmed via a voice vote.
What has changed?
ORANGE MAN BAD.
The context is different here. If people think he is Trump’s puppet, and Trump is obsessed with lower interest rates in the face of stubborn inflation, I would not expect him to receive a lot of votes.
Trump does not seem one bit concerned about the impact to people’s wallets as he clamors for Fed policy that will make a bad situation worse.
There is zero indication that he is a Trump puppet.
Trump heaving like hell to get him (or anyone) installed against the backdrop of his (Trump’s) rhetoric on this topic isn’t a good look.
Puppet might be too strong a word, but beholden is arguable.
Sure, but that would have been the case no matter who he nominated.
I looked at this guys history, he is not a Trumper by any means.
Agreed. The weird thing is how aggressive Trump was about getting him installed. Doesn’t smell right.
That is fair, I think it had more to do with his dislike for Powell.
My main point is, and this is a both sides issue, nobody looks at actual qualifications anymore, it is just a “my side good, your side bad” equation.
Isn’t it always 
I have a personal hypothesis that I am testing long term.
There is a Federal Judge that used to be the Commissioner when I worked with Drug Court.
He is top 1% of most intelligent and fair people I have ever known. We are not close friends, but if we saw each other on the street we would know each other.
IMO, he should get a SCOTUS nomination, he was nominated by Obama and confirmed to the Fed Bench 92-1 (whoever the 1 was had to be a twit). If he were nominated today, I bet he would get less than 5 GOP votes, and he hasn’t changed. The other side of the equation for me is that I think he is too “fair” and “neutral” to be nominated by any Democrat that would be President anytime soon.
What many seem to forget is that Trump picked Jerome Powell to replace the “very political” Janet Yellen who was doing political things. Here is is talking about in it 2016
Trump expects Walsh to so what he wants him to do. Which, oddly enough, is the same exact “very political” things that he criticized Yellen for.
Now…Trump has been bitching because the guy HE picked…the worst fed chair ever (his words) won’t cut interest rates. So does anybody think that he will allow the Fed to ‘do it’s job’, or does he want a little political things.
Which is why the gnashing of teeth about his pick being his lapdog is overblown.
The good news about the Powell story is that it shows the Fed is fairly independent of the office of POTUS.
It is also run by committee, not a single official.
People ought to be more concerned about the fact that the Fed is serving banks and filthy rich people rather than consumers, and wields outsized power to that effect.
Trump is a fairly irrelevant distraction here.
So, I actually disagree with Warsh on this.
It seems like he is in favor of the Fed having more regulatory power, he is also slightly a globalist.
Yes and nobody’s teeth were gnashing harder than Trump’s when Powell wouldn’t lower interest rates. Trump has also expressed disappointment that a couple of HIS judges on the Supreme Court didn’t vote they way he though they should. Trump expects HIS nominees to be beholden to what HE wants them to do. If Walsh doesn’t drop interest rates by July, Trump will want to fire him in August.
What’s the point of all this?
Orange Man Bad? (Fed chair edition)