President Trump's pick to run the Federal Reserve,
Kevin Warsh, now faces a quicker path to confirmation after the Justice Department dropped its investigation
of current Fed Chair Jerome Powell on Friday.
So what are the implications for Fed policy and markets if Warsh is confirmed as Fed Chair?
I'm Alison Nathan and this is Goldman Sachs Exchanges.
To discuss what we know about Warsh, his potential approaches to Fed policy,
and the confirmation process ahead, I'm sitting down with Rob Kaplan,
vice chairman of Goldman Sachs and former president of the Dallas Fed.
Rob, welcome back to Exchanges.
Great to be with you, Allison.
Always nice to be here.
So, Rob, as always seems to be the case when we have you on here, there's a lot to talk about.
But before we get into the policy of all of this, just wanted to level set.
Can you give us an update on where we are in Kevin Warsh's confirmation process
and how much uncertainty is still at play there?
Regarding Kevin Warsh, I think the path is clear.
Now that the Justice Department has dropped its case, it's at the inspector general.
Warsh then is going to get confirmed.
Senator Tillis has reiterated that.
And I would expect Kevin Warsh to be in the seat for his first FOMC meeting in June.