Warsh will be worried about his legacy over the Trump administration, says Fed's Richard Fisher

Summary

Former Dallas Fed President Richard Fisher discusses Kevin Warsh's confirmation hearing for Fed chair, highlighting Warsh's performance and the challenges he may face. Fisher emphasizes Warsh's need to consider his long-term legacy and work collaboratively with other Fed members. He also shares his own past views on quantitative easing and the dot plot.

• Fisher believes Warsh did a good job in his hearing and displayed a winning personality.
• He notes Warsh downplayed expectations of quickly moving on rate cuts.
• Fisher recalls opposing QE2 and QE3, aligning with Warsh's views on short-term QE.
• He discusses the dot plot as an imperfect exercise for Fed communication.
• Fisher highlights Warsh's concern for his historic legacy beyond the Trump administration.
• He explains that Warsh will need to convince other Fed members, not dictate policy.
• The interview addresses concerns about political coercion and Fed independence.
• Overall, Fisher is optimistic about Warsh's potential but acknowledges unification challenges.