Kevin Warsh

If I believe inflation expectations start to become unanchored, I would not hesitate to support an increase in the target range for the federal funds rate.

But at this point, that action seems to be premature.

When we pursue those aims with wisdom and clarity, independence and resolve,

Inflation can be lower.

To fulfill this mission, I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes both.

escaping static frameworks and models.

Kevin has spoken often about the need to restore the Fed's integrity by returning to a proper focus on its two functional and really fundamental responsibilities, maintaining price stability and low inflation and achieving full employment.

Warsh says he has a plan for how he will lead.

I intend to fill the role of chairman with energy and purpose, faithful to the mission and the very best traditions of the Fed.

And while I'm not naive about the challenges we face,

I believe, Mr. President, these years can bring unmatched prosperity that will raise living standards for Americans from all walks of life.

What we call AI in a couple of years, we'll just call business.

And AI is going to make almost everything cost less.

And the U.S.

can be a big winner.

And it's a hugely exciting moment.

If I were to step back for a minute, if I were the president, what I'd be worried about is a central bank that doesn't see any of that.

a central bank that is stuck with models from 1978, governance from a prior period, and don't recognize we could be at the front end of a productivity boom.

And if I were the president, I'd be worried that they might not see it.

And they might think economic growth is somehow going to be inflationary.