Popular candidates for the Chairman of The Federal Reserve (FED): The expansionary behavior of the FED has led to systemic errors in macroeconomic policy.

Gate.io News bot message, former The Federal Reserve Board of Governors member Kevin Warsh has recently published an op-ed in The Wall Street Journal, pointing out that the The Federal Reserve (FED) has reached the limits of its statutory and implied powers, exceeding several long-standing Central Bank principles, as a popular candidate to replace current The Federal Reserve (FED) Chairman Powell.

He stated that the role of the Federal Reserve in economic policy affairs within the government is increasingly expanding, and this all-encompassing and adaptable expansion has led to systemic errors in macroeconomic policy.

Waller emphasized that monetary policymakers should avoid getting involved in fiscal issues. If the Federal Reserve chooses to cross the boundary, it should maintain a consistent stance during both crisis and prosperity periods. He believes that the independence of the Federal Reserve mainly relies on its own maintenance, but this does not mean that Central Bank experts can receive special treatment.