Trump is still still pondering his choice to be Treasury Secretary. Former Federal Reserve Governor Kevin Warsh looks to be the the favorite in the betting market.
Warsh has been critical of both government spending and the Fed’s response to inflation.
He wrote in a Wall Street Journal (may be gated) piece mid-year:
Making points that:
- “The surge in federal spending and concomitant central-bank asset purchases in 2021 and 2022 contributed to the harmful surge in inflation
- The American people are still paying a high price for the central bank’s policy error.
- In my view, irresponsible government spending and excessive money printing are largely to blame for triggering inflation in the first place.”
While Warsh's views on irresponsible government spending are forthright, he may have to temper them as a public servant.
