Watch: Kevin Warsh criticizes Fed for "fatal policy error" in dealing with inflation
Summary
Kevin Warsh criticized the Federal Reserve during his Senate confirmation hearing, saying the Fed made serious mistakes in 2021 and 2022 that led to high inflation. He warned that once inflation grows, it becomes more costly and difficult to control.Key Facts
- Kevin Warsh appeared at a Senate hearing to be confirmed as the next Federal Reserve chairman.
- He said the Federal Reserve made "policy errors" in 2021 and 2022.
- These errors allowed inflation to rise significantly.
- Warsh explained that letting inflation grow makes it harder and more expensive to reduce later.
- GOP Senator Tim Scott questioned Warsh during the hearing.
- Warsh is set to replace Jerome Powell as Fed chairman.
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