Trump, Mnuchin Said to Meet Warsh About Fed Chair Job

The transcript discusses Kevin Wash, a former Fed governor, as a potential candidate for leading the Federal Reserve. It covers his background, including his time at the New York Fed and Morgan Stanley, and his views on monetary policy. Wash prefers a range for inflation targets over a fixed point like 2% and criticizes current inflation measures like CPI and core PCE. Despite his experience, Wash faces challenges due to his non-economist background and criticisms of Fed governance. The transcript concludes with Wash's ongoing job interviews for the Fed leadership role.

Who is being considered as a potential candidate for the Federal Reserve leadership?

• Janet Yellen

• Ben Bernanke

• Michael McKee

• Kevin Wash

What is Kevin Wash's opinion on the Taylor rule?

• He thinks it is the best policy rule.

• He believes it is not accurate enough.

• He supports it strongly.

• He has no opinion on it.

What does Kevin Wash prefer instead of a fixed point target for inflation?

• A range for inflation

• A fixed point target

• No target at all

• A target based on GDP

What is one of the criticisms Kevin Wash has about the Fed's preferred measure of inflation?

• It is a perfect proxy for economic strength.

• It accurately reflects financial stability.

• It is a very bad proxy for the underlying strength in the economy.

• It is the best measure available.

What is a potential challenge for Kevin Wash if he were to lead the Fed?

• His background as an economist

• His lack of experience in law

• His criticisms of the Fed's organization

• His support for the Taylor rule