Nick Timiraos

And that was especially true in 2021 when inflation became a more evident problem.

Warsh again said you shouldn't be purchasing all these securities.

You're going to drive up inflation.

And he was right.

Kevin Warsh hasn't spoken publicly, to my knowledge, since an appearance on Fox News at the end of October when he said, yes, the Fed should cut interest rates.

He had an opinion piece in our pages in November where he said the economy was poised to boom if only the Fed had better leadership.

A lot of analysts expect Warsh will push for some interest rate cuts once he takes over as Fed chair.

Warsh has criticized the models and the framework that the Fed uses.

He thinks the PhD economists have sort of been slaves to these models that say that

If the economy grows faster and more people have jobs and their wages go up, that that's going to create inflation.

Because for a lot of economists, that is sort of the main model they have for the inflation generating process.

And Warsh says that's really not how it works at all and you don't need to worry so much about it.

Trump said, I've known Kevin for a long period of time.

I have no doubt he'll go down as one of the great Fed chairmen, maybe the best.

And then he added this line, which is vintage Trump.

On top of everything else, he is central casting.

Trump cares about the look.

You have to have the look that Donald Trump wants.

Handsome.

He's gotten maybe a few more gray hairs at the temples, that sort of thing.