Former Federal Reserve governor Kevin Warsh, who is considered to be on the short list of President Donald Trump’s picks to replace Fed chairman Jerome Powell, called for “regime change” at the central bank on Thursday.
“We need regime change in the conduct of policy,” Warsh told CNBC’s Squawk Box. “The credibility deficit lies with the incumbents that are at the Fed, in my view.”
Warsh took a veiled shot at Powell, whom Trump has targeted in recent weeks over the Fed head’s cautious approach in lowering interest rates.
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Powell recently raised concerns over Trump’s tariffs driving up prices for consumers and businesses. The chairman also monitors inflation levels before deciding to cut interest rates.
Warsh argues that Trump’s criticism of Powell is warranted.
“Their hesitancy
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