Kevin Warsh’s Fed: Reform agenda or reputational risk?

KEVIN Warsh arrives at the Eccles Building at one of the more fraught moments in the US Federal Reserve’s modern history.

Having cleared the Senate Banking Committee on a 13-11 party-line vote, the first fully partisan committee tally for a Fed chair nominee, he is poised to succeed Jerome Powell after May 15.

The vote itself tells a story: The post-Volcker convention that monetary policy stands above politics is now openly contested.