Federal Reserve New Chair Warsh Implements Reforms at First Meeting, Establishes Five Major Working Groups to Restructure Economic Analysis Framework

TechFlow news, July 28, "Fed mouthpiece" Nick Timiraos posted that new Federal Reserve Chair Kevin Warsh announced the establishment of five working groups at the dinner of the first meeting after taking office, aimed at re-examining the way the Fed interprets the economy. This move was immediately questioned by Governor Chris Waller, who stated that as long as the member list is published, the conclusion can be predicted. Warsh had previously persuaded Trump to appoint him and now faces a greater challenge—how to get 18 colleagues to abandon the traditional mindsets he considers to have gone off track. The first major test will come this Wednesday.