Warsh Dish New Tasty FED Dish?

Letter to Romans: It may have seemed like President Trump was a drunken sailor while tacking his way thru 4 or more possible financial captains to replace exiting FED Chair Jerome Powell. But even the cynical WSJ was wowed by the selection of Kevin Walsh…

Shimmer me timbers. Opined the newspaper’s editorial board: Mr. Walsh “knows where the central bank has gone wrong & how to fix it ... after a generation of exceeding its proper monetary remit.” I DARE Walsh and the Ghost of Milton Friedman to explain in less than a Victor Hugo novel how to fix the highly complex inner and often dysfunctional inner workings) of the Federal Reserve Board. Yet, suggests the editors, if anyone can get the job done, the former Fed Governor can. His 2006-2011 tenure not only “overlapped with the 2008 financial panic & recession, but he also worked on Wall Street and in the White House under George W. Bush.” Walsh wasn’t at the helm of the FED at that time, but “Mr. Walsh’s experience in a crisis will be invaluable when the next one arrives, as it inevitably will. He has deep knowledge of global financial markets and knows most of the global players – from Europe to the UK, Japan & China.

Hmm. The earlier WSJ coverage didn’t single out Mr. Walsh as so great a leading Trump candidate. But, whatever. As the WSJ also hinted, in working/under with No. 47 in controlling the key issues of most immediate concern like inflation & setting interest rates, he’s going to have to be at least roughly on the same page. And like Mr. Trump, Mr. Walsh “has arguably been [a] leading voice in public life for reforming the FED.”

Davd Soul