Hot candidates for Fed chairman: should talk less, stay out of other people's business, and strictly control money supply

Mars Finance News: On April 27, during a Friday event, Kevin Warsh, a former Federal Reserve governor and top candidate to replace current Fed Chair Powell, harshly criticized some of the Federal Reserve's practices. In a session during the IMF and World Bank Annual Meetings, facing a packed audience, Warsh stated that the Fed talks too much, excessively intervenes in current social issues, and does not hold legislators accountable for overspending. Warsh advocated for the Fed to return to its traditional position - maintaining a low-key approach as it did for most of the past hundred years, without overly explaining its monetary policy and financial stabilization measures. Warsh's view seems to align with Trump's, suggesting Powell has too much media exposure. On Friday, Warsh said, "Fed leaders are best advised to avoid frequently sharing their latest thoughts." He added that Fed officials should not publish their economic forecasts, as this would constrain them to their previous statements. Warsh even pointed out that the Fed should not overly rely on economic data when making decisions, as such "data dependence" has little value. He emphasized that government-published data is often lagging and subject to subsequent revisions. In his speech, Warsh did not express specific views on inflation and interest rate prospects, but instead said the Fed should not reveal market expectations of future interest rate trends. He stated, "Central banks should readapt to working in environments without applause and without audiences holding their breath." According to market and Wall Street speculation, he is highly likely to be nominated by President Trump to succeed Powell as Fed Chair when Powell's term ends in May next year.