Powell’s departure upstaged as Warsh readies Fed revamp

The FOMC will leave the fed funds target range at 3.50–3.75% next week, while likely providing a slightly more hawkish policy statement. But assuming Chair Powell doesn’t go rogue at what should be his last press conference, April’s event could be something of a sideshow given the impending arrival of Kevin Warsh. Assuming he is confirmed by the Senate, Warsh will aim to deliver the most significant reforms since Ben Bernanke.