CNBC
03 Jun 2026, 00:14 UTC · 4h ago
Fed Chair Warsh makes first hires at central bank, including ‘Project 2025' author
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CNBC
03 Jun 2026, 00:14 UTC · 4h ago
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Paul Winfree previously authored a proposal to end the Fed's dual mandate in favor of focusing solely on protecting the dollar and restraining inflation. — Removing the employment mandate would fundamentally alter the Fed's reaction function, potentially leading to higher rates and tighter financial conditions.
-0.60Fed Chair Kevin Warsh has hired Paul Winfree and Daniel Heil as temporary contractors for policy analysis and planning. — The inclusion of a Project 2025 author suggests a shift toward conservative institutional reform that could introduce volatility into central bank policy.
-0.40Kevin Warsh previously pledged a 'regime change' at the Federal Reserve, suggesting it would require 'breaking some heads' at the institution. — Signals potential instability or a purge of career staff, which could disrupt the continuity of monetary policy operations.
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Kevin Warsh stated at his swearing-in that he intends to uphold both sides of the Fed's dual mandate. — This public commitment acts as a stabilizer, tempering the more radical reform ideas associated with his new hires.
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WSJ
8h ago
