Kevin Warsh Biography
Kevin Warsh(Kevin Maxwell Warsh)is an American financier, lawyer, and former government official. During and in the aftermath of the 2008 financial crisis, Warsh was a governor of the Federal Reserve System, and acted as the central bank’s primary liaison to Wall Street and served as the Federal Reserve’s representative to the Group of Twenty (G-20) and as the Board’s emissary to the emerging and advanced economies in Asia.
Before he served as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council. Kelvin is a distinguished visiting fellow at Stanford University’s Hoover Institution, a member of the Group of Thirty, and a former steering committee member of the Bilderberg Group. He has conducted research in the field of economics and finance and has advised several private and public companies.
Kevin Warsh Age
Kevin Maxwell Warsh, is an American financier, lawyer, and former government official. He was born on April 13. 1970 in Albany, NY. He is 49 years old as of 2019.
Kevin Warsh Wife | Kevin Warsh Jane Lauder | Kevin Warsh Wedding
In 2002, Warsh married Jane Lauder, a granddaughter, and heiress of Estée Lauder and long-time employee of the family business, the Estée Lauder company. The couple lives in Manhattan. Formerly the general manager of Origins, She has served as the Global Brand President for Clinique since 2014.
Kevin Warsh wife Net Worth
Lauder net worth as of September 27. 2017 was $2 billion. Warsh’s father in law is Ronald Lauder. Jane Lauder, who is 40 years old as of 2019, owns just under 20 million shares of her family’s company — worth about $1.4 billion, while older sister Aerin Lauder, 43, has at least 16 million shares worth about $1 billion, according to Forbes. Unfortunately for gold-digging bachelors, both sisters are married. She has an estimated net worth of 3.5 billion USD as of 2019.
Kevin Warsh Photo
Kevin Warsh Federal Reserve
Federal Reserve Board Nomination
President Bush nominated Warsh and Randall Kroszner to fill two Fed vacancies on January 27. 2006. Warsh’s nomination drew some criticism, based on his age and inexperience. At 35 years old, he was the youngest appointment in the history of the Federal Reserve. At the time, former Fed vice chairman and Reagan appointee Preston Martin said his’s nomination was “not a good idea” and that if he had a voice in the Senate, he would vote no.
Ben Bernanke wrote, “His youth generated some criticism, including from former Board vice chairman Preston Martin, but Kevin’s political and markets savvy and many contacts on Wall Street would prove to be invaluable.”In his confirmation documents, Warsh listed two published writings – “Deciding to Run for Congress: An Opportunity Cost Model with Partisan Implications” and “Corporate Spinoffs and Mass Tort Liability.”
At his confirmation hearing on February 14. 2006, Warsh touted his experience on Wall Street: “I hope that my prior experience on Wall Street, particularly my nearly 7 years at Morgan Stanley, would prove beneficial to the deliberations and communications of the Federal Reserve.”
He took office on February 24. 2006 to fill an unexpired term ending January 31. 2018.
The Federal Reserve has a legal dual mandate to pursue maximum employment as well as to ensure price stability.
He elaborated on his opposition to the program: “I think we are removing much of the burden from those that could actually help reach these objectives, particular the growth and employment objectives, and we are putting that onus strangely on ourselves rather than letting it rest where it should lie.
We are too accepting of dangerous policies from others that have been long in the making, and we should put the burden on them.” While Federal Reserve officials routinely offer their views on non-monetary questions such as taxes, spending, and regulations, it is unusual for a Federal Reserve official to suggest that monetary support should be withheld in order to compel other branches of government to enact the Federal Reserve’s favored policies.
Kevin Warsh Stanford
Warsh is the Shepard Family Distinguished Visiting Fellow in Economics at Stanford University’s Hoover Institution and Dean’s Visiting Scholar at Stanford’s Graduate School of Business. His most recent publication is Challenging the Groupthink of the Guild. He was born in upstate New York. He received his AB from Stanford University and his JD from Harvard Law School.
Kevin Warsh Fed Governor
The contest for the next Fed chair is coming down to two pretty different choices. In recent days, market participants have become more focused on former Fed Governor Kevin Warsh and current Governor Jerome “Jay” Powell. While Warsh has long been considered a front-runner to head the central bank, Powell has emerged only lately as a compromise candidate who may just get the nod.
Kevin Warsh Hawk | Kevin Warsh Hawkish
He announced his intent to resign from the Board in a letter sent to President Obama on February 10. 2011, effective around or on March 31. 2011. When he left the Fed, CNBC’s Larry Kudlow expressed disappointment and described Warsh as a “hard money hawk.”
Kevin Warsh Hoover
He is a distinguished visiting fellow at the Stanford University’s Hoover Institution and a lecturer at the Stanford Graduate School of Business. Warsh is also a member of the board of directors at UPS and is an advisory board member for Rubicon Global. In December 2016, he joined a business forum assembled by then president-elect Donald Trump to provide strategic and policy advice on economic issues.
Kevin Warsh Monetary Policy
In September 2009, with unemployment at 9.5% and climbing, he argued that the Fed should start to pull back on its efforts to help the real economy recover: “if policymakers insist on waiting until the level of real activity has plainly and substantially returned to normal — and the economy has returned to self-sustaining trend growth — they will almost certainly have waited too long… There is a risk, of much-debated magnitude, that the unusually high level of reserves, along with substantial liquid assets of the banking system, could fuel an unanticipated, excessive surge in lending.”
The runaway inflation he warned about never appeared. University of Oregon Professor Tim Duy wrote in response to the speech that it looked as though “monetary policymakers are more willing to use unconventional monetary policy to support Wall Street than Main Street.”
Kevin Warsh Wall Street Journal
Governor has criticized central-bank asset purchases and the Dodd-Frank law
The ex-fed governor has criticized central-bank asset purchases and the Dodd-Frank law
The revelation that President Donald Trump met with former Federal Reserve governor Kevin Warsh has increased speculation that he could be tapped to replace Janet Yellen when her term as board chairwoman expires in February. Mr. Warsh, a former Morgan Stanley executive, served on the Fed board from 2006 to 2011. He also sat on a business council advising Mr. Trump before it disbanded in August. In essays and public remarks, Mr. Warsh has expressed views on monetary and economic policy that shed light on how he might run a central bank if asked to do so. Adopted from David Harrison on September 29. 2017.
Kevin Warsh News
Trump considered replacing Fed chair with Kevin Warsh
President Trump, toward the end of last year, briefly mused whether he could replace Federal Reserve Chairman Jerome Powell with Kevin Warsh, Axios reported early Wednesday, citing two unnamed sources who said they had talked with Trump about the matter. Warsh, a former Fed governor and aide to President George W. Bush, has been on Trump’s short list for the Fed’s top spot at the outset, but the president was persuaded to go with Powell by Treasury Secretary Steven Mnuchin. The Wall Street Journal separately reported that Trump blasted Powell at three meetings last week, charging that without the Fed’s interest-rate increases, economic growth and stock performance would be stronger and the U.S. budget deficit would be rising less, according to the report. “I guess I’m stuck with you,” Trump recalled telling Powell during a phone call, the report said.