Kimberly Adams

Where does he stand on that and how does that align with the president who nominated him?

Sure.

So in the past, he, as Catherine was talking about, he criticized the Fed for its ownership of trillions of dollars in mortgage-backed securities and

many of which built up after the Great Recession and during the pandemic.

And he has made the argument that this big bond buying spree basically enabled Congress to ramp up spending without worrying about higher borrowing costs.

And

I think that there are a couple of threads there that have connections to government spending, to what the Fed's role is when it comes to monetary versus fiscal policy.

And these are a lot of the themes that we hear Trump economic officials talking about too, right?

Now, those two types of leaders have very different roles, and there are lots of reasons why

monetary policy and fiscal policy come out of different shops, which which maybe we'll talk about now.

But I think like with any Fed candidate, it will be compelling.

I think we've lost Rachel there.

But, you know, since she talked about him as a Fed candidate, Catherine, I want to follow up with you in terms of his prospects in Congress, because Kevin Hassett, who a lot of folks thought was going to get the nod, turned out to have a lot of opposition in Congress.

As I think Rachel mentioned before, Warsh has been around for a long time.

He has relationships on the Hill.

He has passed through a confirmation hearing before, albeit with different people, of course, or many different lawmakers sitting in the seats that would be there to confirm him or judge him.

So I generally don't think he as a candidate, per se, will have a lot of problems.

The one thing that may complicate his path to the Fed chairmanship is the fact that there is still this ongoing investigation, criminal investigation of Jerome Powell, the current Fed chair, which has been

as far as I can see, is purely political, but listeners can judge for themselves.

And Senator Tom Tillis, who's a retiring senator, he's a Republican from North Carolina, he sits on the committee that handles Fed nominations, has said that he will oppose any Fed confirmation, including that of the chair, who he seems, you know, he seems to like Warsh, but he has said that he will oppose any nomination, any confirmation all the same,