Warsh’s repeated focus on the issue could shape the Fed’s policy approach going forward, wrote Wells Fargo Chief Economist Tom Porcelli. Powell has been known for “insurance cuts” — lowering rates slightly to get ahead of brewing risks in economic data. But those might now become less common, Porcelli wrote.

Warsh has repeatedly and loudly blasted his old colleagues over the years for letting the bank’s assets balloon, prompting speculation in markets that he could move quickly to have them drawn down

Especially at times like this, the multitudes enjoy seeing wealthy people dragged through the mud.

David Wessel, senior fellow in Economic Studies at the Brookings Institution, joins 'The Exchange' to discuss Trump's nomination to head the Federal Reserve, Kevin Warsh.

President Trump says he didn't demand a commitment on interest rates from his Fed nominee Kevin Warsh, but a former rival for the top central bank job says Warsh appears to agree that rates should be lower.

Kevin Warsh’s long-held desire to slash the Federal Reserve’s balance sheet is likely to clash with Donald Trump’s relentless calls for the central bank to depress long-term borrowing costs, big fund managers have said.

Warsh has recently advocated for lower rates, but a smaller Fed balance sheet.

Debt and deficits will put Kevin Warsh under great pressure to keep interest rates low and rely on short term borrowing. But long term that will have serious consequences.