Economist Podcasts Tug of Warsh: will the new chair politicise the Fed?
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Feb 3, 2026 
Archie Hall, US economics editor who decodes Kevin Warsh’s Fed nomination; Erin Connolly, Asia diplomatic editor reporting on Thailand’s youth-led parties and royal influence; Emma Irving, Hong Kong news editor highlighting the city’s iconic trams. They discuss the politics around the Fed pick, Thailand’s contested election dynamics and monarchy’s role, and how trams quietly sustain Hong Kong tourism.
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Experienced Pick With Uncertain Policy Tilt
- Kevin Walsh blends deep Fed experience with recent political signaling that favours rate cuts.
- His past hawkishness vs recent pivot creates uncertainty about future policy direction.
Young Fed Insider Who Resigned Over QE
- Walsh was appointed to the Fed at 35 and became closely involved in crisis-era bank rescues.
- He left in 2011 over objections to prolonged quantitative easing and its economic effects.
Political Signals Versus Historical Stance
- Trump wanted a rate-cutter, but Walsh historically worried about inflation and kept a hawkish view.
- The key question is whether recent pro-cut signals reflect conviction or auditioning for the presidency.