Kevin Warsh has been preparing to lead the Federal Reserve for years. He thought he had the job in 2017, but Trump passed him over for Powell. He spent the time since making sure Trump wouldn't forget him.
As a Fed governor 15 years ago, Warsh gave a speech called "An Ode to Independence," and warned the Fed shouldn't be expected to use interest rate policy to un-muck broken policies from the president or Congress. Last year, he called for "regime change" at the Fed and said all that was holding the economy back was an uncooperative uncentral bank.
The distance between those two visions traces his long campaign to lead the Fed. A look at the man who finally got the job he's wanted:
