The Case For A Smaller, Humbler Federal Reserve
The article discusses the recent confirmation of Kevin Warsh as the Chair of the Federal Reserve and the need for reform within the institution. It argues that the Federal Reserve has taken on too many responsibilities beyond its original mandate, leading to unintended consequences. Warsh advocates for a more focused approach, emphasizing price and financial stability over broader social goals.
- ▪Kevin Warsh was confirmed as the 17th Chair of the Federal Reserve in a contentious Senate vote.
- ▪The Federal Reserve's balance sheet expanded dramatically from $900 billion before the 2007-08 financial crisis to over $6.7 trillion today.
- ▪Research indicates that quantitative easing has disproportionately benefited wealthier households and distorted markets.
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Big Tent Ideas The Case For A Smaller, Humbler Federal Reserve OPINION Andrew Harnik/Getty Images James Carter Contributor May 27, 2026 6:54 PM ET May 27, 2026 6:54 PM ET James Carter Contributor Font Size: const observer = new MutationObserver((mutations) => { const adDivToHide = document.querySelector("#dailycaller_incontent_1"); if (adDivToHide && dc_noads_page) { adDivToHide.classList.add("hide-premium", "hide-free"); observer.disconnect(); console.log("Ad div found and hidden"); } }); observer.observe(document.body, { childList: true, subtree: true }); For two decades, the Federal Reserve has behaved less like a central bank and more like the nation’s emergency room physician, trauma counselor and part-time life coach. Markets sneeze, the Fed reaches for liquidity.
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