Warsh Channels Greenspan in Bid to Reshape Fed

“When Kevin Warsh was sworn in as Federal Reserve chairman at the White House last month, he reached back to the man last sworn in at the same spot 39 years ago. Alan Greenspan was the first to ‘show me what this role demands,’ Warsh said,” the Wall Street Journal reports.

“One month in, Warsh is showing what he thinks the role demands, altering the machinery his predecessors built. He announced five task forces on such matters as communications and the data the Fed relies on. Supporters say these moves will boost the Fed’s credibility. Though Warsh’s approach is often described as a return to Greenspan, it was Greenspan who built a good deal of that machinery.”