Kevin Warsh launches sweeping Fed overhaul with five task forces to rethink monetary policy
By
Jeff Cox
Summary
Federal Reserve Chairman Kevin Warsh has announced a sweeping overhaul of the Fed's operations through five task forces aimed at rethinking monetary policy, policy frameworks, communications, tools, and the Fed's balance sheet. The initiative represents the most ambitious internal review in the Fed's recent history, described as a "quiet revolution" that seeks to modernize how the central bank approaches its dual mandate of price stability and maximum employment. Warsh's plan draws on both internal expertise and outside resources to comprehensively examine all areas defining modern monetary policy.
Source
bskyKevin Warsh launches sweeping Fed overhaul with five task forces to rethink monetary policycnbc.comKey quotes
· 3 pulledNo chair in recent history has launched a project that has matched the ambition of this undertaking.
The reviews amount to a comprehensive examination of all the areas that define modern monetary policy.
Regime change but in a velvet glove.
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