Key ideas from Skanda Amarnath

• Kevin Warsh was a Fed governor during the 2008 crisis but 'often touts financial system performance even as it descended into crisis'
• Warsh's policy views show 'obsequiousness and partisanship' - hawkish under Democrats, dovish under Republicans according to Skanda
• Neil Dutta calls Warsh 'everyone's least favorite candidate' who has 'managed to get selected after being passed over time and again'
• Warsh did a 'big one-eighty' from hawkish to dovish views in November 2024 after Trump's election victory
• Jason Furman and Mohamed El-Erian support Warsh, saying he's 'well above the bar on both substance and independence'
• Warsh criticized the Fed for being 'too dependent on data' but offers no clear alternative framework for policy decisions
• Money markets signal the Fed's balance sheet may need gradual expansion, contradicting Warsh's long-standing QE criticism
• Warsh talked about 'regime change at the Fed' involving 'breaking some heads' in a recent speech