Warsh’s red lines unsettle markets

KEVIN Warsh is poised to take the helm of the US Federal Reserve (Fed) with a mission to clip the wings of a central bank he thinks strayed too far into politics. Many countries fear that just gives US politicians more room to use financial tools as a cudgel.

Nominated in January by US President Donald Trump to succeed Jerome Powell as chair, Warsh is widely expected to win Senate confirmation before Powell’s term ends on May 15.