Warsh Proposes New Inflation Framework at Fed Hearing

Kevin Warsh, the nominee to lead the central bank of the United States, called for a fundamental "regime change" during a confirmation hearing before the Senate Banking Committee on Tuesday. Warsh, a 56-year-old financier and former governor, proposed a new framework for controlling inflation and suggested a potential overhaul of how the institution communicates monetary policy to the public, including a rethink of quarterly economic and interest rate projections.

"The fatal policy errors going back four or five years are a legacy that families are still working through."