Kevin Warsh.

 

Kevin Warsh said he would dial back the Federal Reserve’s tendency to telegraph its interest-rate decisions ahead of time, arguing that so-called forward guidance can make policy makers slow to pivot when economic conditions change.

https://englundmacro.blogspot.com/2026/05/ending-forward-guidance-centralbanker.html

Chairman Kevin Warsh August 28, 2026

At “Financial Innovation: Implications for Payments and Policy,” an economic policy symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming.

Here is a quick overview of what I'll cover in my remarks this morning. You can call it an outline . . . you can call it a trail map . . . just don't call it forward guidance.

https://englundmacro.blogspot.com/2026/08/28-augusti-google-i-timra-liechtenstein.html

Fed chair pick Kevin Warsh spent over a decade working for Stanley Druckenmiller, who also mentored Scott Bessent, the Treasury Secretary.

Stanley Druckenmiller, the former hedge fund manager said Fed policymakers are “raising the odds of the economic tail risk they are trying to avoid”, such as spurring credit bubbles, by keeping interest rates near historic lows.

https://englundmacro.blogspot.com/2026/02/what-kevin-warsh-learned-working-for.html

Mr Druckenmiller added that the “longest period ever of easy monetary policies” has caused groups to borrow at a quick clip and then use the funds in ways that are not economically productive. 

For instance, he noted that “most of the debt today has been used for financial engineering”, in the form of stock buybacks and other methods that provide a boon to corporate profits 

https://englundmacro.blogspot.com/2016/05/alarm-bells-ring-over-negative-interest.html

Skeptical about tech stocks during the bubble a quarter century ago, he bet against them too early. Druckenmiller said he knew he wasn’t supposed to play and did anyway. 

Years before that, economist and bubble scholar Charles Kindleberger laid out the psychology that lured him in.

"There is nothing so disturbing to one's well-being and judgment as to see a friend get rich."

https://englundmacro.blogspot.com/2025/09/one-of-greatest-investors-of-all-time.html