Popular candidate for Federal Reserve Chairman: Should speak less, mind your own business, and strictly control water release

BlockBeats News: On April 27th, at an event on Friday, former Federal Reserve Governor Kevin Warsh, who was seen by Wall Street as the top contender to replace current Federal Reserve Chairman Powell, harshly criticized some of the Fed's practices. At a sub venue during the annual meetings of the IMF and World Bank, facing a packed audience, Walsh said that the Federal Reserve spoke too much, intervened too much in current social issues, and did not hold lawmakers accountable for its excessive spending. Walsh advocates that the Federal Reserve should return to its traditional positioning - like for most of the past century, maintaining a low-key style, but explaining its monetary policy and financial stability measures to the public. Walsh's viewpoint seems to be consistent with Trump's view that Powell has been exposed too much in the media. On Friday, Walsh said, "It's best for Fed leaders to avoid frequently sharing their latest ideas." He added that Fed officials should not release their economic forecasts because it would limit them to what they have said. Walsh even pointed out that the Federal Reserve should not overly rely on economic data when making decisions, as this "data dependence" does not have much value. He emphasized that government released data often lags behind and is prone to subsequent revisions. In his speech, Walsh did not express specific views on the outlook for inflation and interest rates, but rather stated that the Federal Reserve should not disclose expectations for future interest rate trends to the market. He said, "The central bank should readjust to working in an environment without applause or audience holding their breath According to market and Wall Street speculation, he is highly likely to be nominated by President Trump to take over the position of Federal Reserve Chairman after Powell's term ends in May next year. (Golden Ten)