"When Trump said that Warsh comes from "central casting," the president revealed a lot about his own views of the 55 year-old's looks and conventional pedigree. Warsh has many of the trappings of a traditional pick to lead the world's most important central bank, yet he's doing so at a decidedly unconventional moment for the Fed as Trump has said the new chair needs to cut its benchmark rates to the White House's liking."
""He's very smart, very good, strong, young, pretty young," Trump told reporters on Friday about Warsh. "He was the central casting guy that people wanted." The president added, "Looks don't mean anything, but he's got the look." Rate cuts of the degree sought by Trump could temporarily boost growth, but they also pose the risk of overheating the economy at a time when inflation is already elevated and affordability is a top concern for much of the American public."
Donald Trump announced plans to nominate former Federal Reserve governor Kevin Warsh to replace Jerome Powell as Fed chair in May. Trump described Warsh as a conventional, well-credentialed choice with a youthful appearance and traditional pedigree. Trump wants the new chair to cut the Fed's benchmark rates to stimulate the economy toward the promised boom. Rate cuts of the degree Trump seeks could temporarily boost growth but risk overheating while inflation is already elevated and affordability remains a major public concern. Warsh was a runner-up for Fed chair in 2017, holds degrees from Stanford and Harvard Law, and is married to Jane Lauder.
Read at Fast Company
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