‘Regime Change’ at the Federal Reserve?

Kevin Warsh became the 17th chair of the Federal Reserve in May and was immediately handed responsibility for fixing a rising inflation rate, a tarnished institutional reputation, and an ever-growing balance sheet. Nevertheless, Warsh appears optimistic, observing at his first press conference that “the recent past need not be prologue.”

“At any institution, a change in leadership is a natural and timely opportunity to reaffirm its mission, to review current practices, and to consider whether those practices best meet our objectives,” he said. 

While not so bombastic as Pete Hegseth’s rhetoric of “ending [of the] war on warriors” over at the War Department, Warsh is signaling a similarly ambitious reform effort at the nation’s central bank. 

He outlined a plan to launch five task forces to investigate key areas of the Fed’s operations and reiterated, as Federal Reserve chairs have since time began, that “this Committee will deliver price stability.”