What Will the Fed Become Under Chair Kevin Warsh? | The Spillover

In this episode of The Spillover, host Rebecca Patterson and former Federal Reserve Vice Chair Roger W. Ferguson Jr. reflect on the legacy of recently deceased former Fed Chair Alan Greenspan, and examine what may lie ahead for the Fed under its new chair Kevin Warsh. Hosts: Rebecca Patterson, Senior Fellow, Council on Foreign Relations (CFR) - https://www.cfr.org/experts/rebecca-patterson Guest: Roger W. Ferguson Jr., Steven A. Tananbaum Distinguished Fellow for International Economics, Council on Foreign Relations (CFR); Former Federal Reserve Vice Chairman (1999–2006) - https://www.cfr.org/experts/roger-w-ferguson-jr 00:00 - Introduction to The Spillover 01:31 - Today’s Topics: Greenspan, Fed Policy, & Markets 03:44 - Alan Greenspan's Leadership Legacy 06:48 - Fed Management During Crisis 08:44 - The Fed Under Chair Kevin Warsh 09:27 - Fed Task Forces and Institutional Change 13:14 - Evolution of Fed Communication Policy 15:47 - Transparency and Market Noise 17:31 - Dot Plots and Forward Guidance 24:12 - Quantitative Easing Frameworks 26:14 - Analyzing the Current US Economy 28:09 - Interest Rate Hikes and Inflation 29:56 - AI Productivity and Capital Trends 35:20 - Fed Collaboration and Global Stability Mentioned on the Episode: Sebastian Mallaby, “Alan Greenspan Understood Power and Was Not Afraid to Wield It,” The Washington Post - https://www.washingtonpost.com/opinions/2026/06/22/alan-greenspan-paved-way-fed-independence/ “Federal Reserve Issues FOMC Statement,” Board of Governors of the Federal Reserve - https://www.federalreserve.gov/newsevents/pressreleases/monetary20260617a.htm Want to keep up with The Spillover? Sign up to receive an email alert when new episodes are released at http://cfr.org/newsletters/#podcasts The Spillover is a production of the Council on Foreign Relations. The opinions expressed on the show are solely those of the hosts and guests, not of the Council, which takes no institutional positions on matters of policy.