Buffett Says Fed Chair Warsh Was a 'Good Choice,' Praises Inflation Approach

According to CNBC, Warren Buffett said newly appointed Federal Reserve Chairman Kevin Warsh is a "good choice" for the role and expressed confidence in his ability to manage monetary policy. Warsh held rates steady during his first meeting as chair in June and outlined changes to the central bank's approach. In congressional testimony on Tuesday, Warsh pledged a "regime change" in Fed policy and promised to tackle inflation. Buffett, speaking in an interview on CNBC's "Squawk Box," said Warsh "will do the best he can at achieving the job he was assigned to do, which is 2% inflation and maintaining maximum employment." Buffett added that Warsh "cannot be perfect" but noted that he "cares about the country." Warsh took office in May after being nominated by President Donald Trump and confirmed by Congress. He is scheduled to testify again on Wednesday before the Senate Banking Committee.