Warsh’s Fed Chair Bid Faces Test Of Unity And Trust, Atlanta Fed President Reportedly Says
Synopsis
Atlanta Fed President Raphael Bostic reportedly said that Kevin Warsh will have to build trust, and demonstrate wisdom and guidance if he is confirmed in the position.
Atlanta Fed President Raphael Bostic reportedly said that U.S. President Donald Trump's Federal Reserve chair nominee Kevin Warsh has a sizable task ahead of him if he is confirmed in the position.
According to a report from Reuters, Bostic said at the Rotary Club of Atlanta that Warsh will have to deal with a "tall task" while helming the Federal Reserve, especially with regard to convincing all the members of the committee to align with him on monetary policy decisions.
"If you want to have policy enacted or go in a direction that you want, you've got to convince them to go along, and in order to do that, you've got to build a relationship with them," Bostic said on Monday, as per the Reuters report.
He also added that Warsh will have to build trust, and demonstrate wisdom as well as guidance. “And those things don't happen overnight. And so it's just a huge undertaking," Bostic added.
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