“美联储需要彻底改革”

Core Viewpoint - Kevin Warsh, a potential candidate for the next Federal Reserve Chair, advocates for a complete overhaul of the Federal Reserve due to its poor performance under Jerome Powell's leadership [1][3]. Group 1: Criticism of Jerome Powell - Warsh criticizes Powell for failing to maintain appropriate interest rates and for not instilling confidence in the Federal Reserve's actions [2][3]. - He highlights that Powell's tenure has seen inflation rates remain above the Fed's target of 2%, with the latest report showing an inflation rate of 2.9% as of August [3]. - Warsh argues that the market's positive reaction to a recent interest rate cut indicates a loss of trust in Powell's commitment to controlling inflation [3]. Group 2: Call for Reform - Warsh suggests that the next Federal Reserve Chair must implement significant reforms, including delegating bank regulatory responsibilities to government agencies [4]. - He believes that the Treasury should oversee the Federal Reserve's asset holdings, especially after the large-scale asset purchases following the 2008 financial crisis [4]. - Warsh emphasizes that the Federal Reserve should cease holding substantial assets, as this has distorted market dynamics, particularly by lowering U.S. Treasury yields [4]. Group 3: Uncertainty in Chair Position - The current target range for the federal funds rate is between 4.00% and 4.25%, with President Trump expressing a desire for a reduction of up to three percentage points [5]. - Warsh acknowledges that he is not the only contender for the Federal Reserve Chair position, with other candidates including Kevin Hassett and current Fed Governor Waller [6][7]. - Trump's comments suggest that both candidates named Kevin are strong contenders, leaving the selection of the next Federal Reserve Chair uncertain [7].