Neil Dutta of Renaissance Macro captured this well in a recent podcast, calling Warsh the “antithesis of the populist movement that swept the president into office.” And certainly, it is a bit jarring to see the nomination garner the endorsement of former Fed Chairman Ben “QE” Bernanke and China’s Canadian Prime Minister Mark Carney. Levin claims “many observers of the ‘jobless recovery’ of the 2010s now wish that we’d done more to support the economy, not less,” treating Warsh’s skepticism as evidence he didn’t care about the unemployed. The real vindication of Warsh’s framework came in December 2021, when he wrote in the Wall Street Journal that “if price stability is squandered, financial stability is put at risk,” and warned that “extraordinary excesses in monetary and fiscal policy” had awakened the “inflation dragon” after decades of dormancy.
Author: John Carney
Published at: 2026-02-02 22:49:41
Still want to read the full version? Full article
