Ones and Tooze Who Is Kevin Warsh?
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May 1, 2026 A deep look at the likely new Fed chair, his background in finance and law, and how his views could reshape interest rate policy and central bank communication. A rewind to his role during the 2008 crisis and the politics and money that surround him. A separate segment explores Michael Jackson as a cultural and economic phenomenon, from his Motown roots to the costs of superstar labor.
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Warsh Is A Political Lawyer Not A Monetary Technocrat
- Kevin Warsh is a politically connected lawyer and Republican insider rather than a technocratic monetary economist.
- He served as a markets liaison during 2008, favored private-sector fixes, and later moved to Hoover Institution conservative circles shaping his anti-expansion stance.
Hawkish Skeptic Who Backed Some Crisis Deals
- Warsh favored private-sector solutions in 2008 and was skeptical of broad Fed interventions like QE even while voting for some emergency measures.
- He opposed direct support for Lehman and later brokered bank recapitalizations, then resigned in 2011 and moved to conservative finance and Hoover circles.
Warsh Wants Less Forward Guidance And Public Forecasting
- Warsh criticizes forward guidance and the Fed's publication of individual rate forecasts as a self-referential 'fun house'.
- He calls data dependence false precision and argues the Fed should avoid sharing frequent forecasts or 'musing'.