, Columnist
Trump Needs a Nimble Fed Chair, Not a Hawk or a Dove
Kevin Warsh is always looking for inflation. Can he do what it takes to fight a recession?
The room where it happens.
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In selecting a chairman of the Federal Reserve, President Donald Trump should not be looking for a hawk or a dove. He should be looking for someone who is willing to play either role as circumstances warrant.
One of the top contenders for the appointment, Kevin Warsh, has proved he is right for only half the job. He has leaned toward tighter money in many different contexts: when the economy was about to collapse, when it was showing early signs of recovery, and now, when it is well into a slow expansion.