Contender to succeed Jay Powell blames Fed for ‘systematic errors’

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He threw a major candidate for Jay Powell, as the next Federal Reserve, blame the US Central Bank for “systematic errors” and failed to control the worst increase in inflation in one generation.

Kevin Worsh, a former governor of the Federal Reserve and President Donald Trump’s ally, accused the US Central Bank, who acts as a “government agency for the narrow central bank,” saying that “drifting” prevented him from maintaining inflation in its 2 percent target.

“Since 2008, the central bank’s hegemony has become a new advantage of American government,” Warb said in a group of 30 event in Washington on Friday.

“FORYS FAR -AFILD – for all seasons and all reasons – has led to a systematic errors in the macroeconomic policy.”

He added that the 7 -meter public budget at the Federal Reserve also enabled the federal government that left the US financial situation on a “dangerous path”.

“It is much easier to allocate the money, knowing that the government financing costs will be supported by the central bank,” said Warsh.

The comments come from Warsh, which Trump considered the potential treasury minister, at a sharp moment between the Federal Reserve and the President, who said last week that he could not wait for a “end” as the head of the Central Bank.

Trump partially followed his comments, saying he had no intention to shoot Powell, which led to relief in global markets.

Warsh, who was at the Federal Reserve when he started QE, was a critic of the central bank’s policies last year, but his statements were his first statements about his monetary policy months ago.

Warsh also attacked the participation of the Federal Reserve in issues such as climate change and integration – although it has admitted that the central bank had “changed it” by leaving the network to the vegetables of the financial system in January.

The current term Powell, such as the Federal Reserve Kurds, ends in May 2026, when Treasury Secretary Scott Bessin said earlier this month that the search for his alternative would start in the fall.

The head of the National Economic Council is Kevin Hasit, the candidates for his successor.

Trump’s latest criticism of healing for refusing to reduce interest rates, as well as suggestions that the White House believes that he has the authority to launch the Federal Reserve Chair, which raised fears of the independence of the Central Bank-which led to a sharp sale in shares and dollars.

Warsh said that although he strongly believes in “operational independence” to study the federal reserve to determine interest rates free from political pressure, this does not mean that central bankers should be treated as “spoiled princes.”

“When the critical results are bad, the federal reserve must be subject to serious interrogation,” he said.