Five things to know about Kevin Warsh, who may be the next Fed chairman
By Greg Robb, MarketWatch
Warsh is an insider who talks like an outsider
Here are five things you need to know about Kevin Warsh, who reportedly met with President Donald Trump to discuss becoming the next chairman of the Federal Reserve.
Fed Chairwoman Janet Yellen's term as chief of the central bank expires in February.
He's an insider who talks like an outsider.
Warsh was a Fed governor from 2006-2011 who has been very critical of the central bank in recent years, often in op-eds in the Wall Street Journal. Despite this, many in the larger Fed community see Warsh as an acceptable alternative to Yellen. Stephen Cecchetti, a professor of international economics at Brandeis University, and a former top Fed staffer, said in an interview that Warsh would represent "continuity" at the central bank. Warsh "knows why the Fed did what they did" during the financial crisis, added Diane Swonk, chief economist at DS Economics.
He is not an economist.
Warsh was a lawyer by training who became an investment banker at Morgan Stanley and came to Washington with President George W Bush. Since leaving the Fed, Warsh has been advising companies from his perch at the Stanford University's