Bloomberg Audio Studios, podcasts, radio news.
The single best idea is that the team gets some sleep. Starting at seven o'clock. Eight o'clock. Last night, our world was blown up by the announcement by the President of a selection as a nominee for Federal Reserve Chairman. This is a big deal. I mean, you go back to nineteen fifty one and President Truman and McChesney Martin. The basic idea here is this is rareer than you think. We don't see this every four years. We don't see
this every two years. We see this once in a great while, like Alan Greenspan in nineteen eighty seven, and here presumably with Kevin Warsh we'll see an announcement from the President and then what seems to be a fractious Senate Banking Committee process. We chose to get many different perspectives. Our wonderful guests were a lead. Today. There were guests that were canceled. We literally had one guest who couldn't get to us because the trains were stuck under the
Hudson at River in this brutal cold. We reached out to Neil Dudda of Renaissance Macro. We spoke to Neil Dudda about this moment at hand. He is critical of Kevin Walsh.
Was it something I said? I don't think I shuttered Rob. You know, look, well he is everyone's least favorite candidate. I mean, I mean, to me, look, the main criticism I have of Kevin Walsh is lack of judgment, okay, because the performance his performance during the financial crisis was not a particularly good one, and I think you could
say arguably that it is disqualifying. I mean to be that concerned about inflation at a time when the unemployment rate was rising very rapidly, you know, kind of strange credulity, and in the year since. Everyone makes bad calls, Okay, I mean, I've been a market treat economists for a while. I've made bad calls. Everyone makes bad calls. The issue is when you make bad calls and you're always wrong in the same direction that to me was open minded.
This Neil Duneer there with more of a long term perspective. Claudia sam with us and all of our work for us on jobs Day, she's with us at eight thirty, right when those headlines come out. But she's far more an esteemed person with FED experience, with a real understanding of the challenges of success and failure at the FED. And she was really humble today about the criticism mister Worsh has had of her Federal Reserve system. Here is Claudia Sam.
I was at the FED when Kevin Worsh was a governor. I've watched him in action as a policymaker. I've certainly followed his comments since then. I mean, there's a lot about his track record and his recent comments about what we see in the economy and what's appropriate for interest rates. All that said, I think the conversation about Kevin Worsh, and again today he got the nomination. He's not the FED chair yet.
Claudia Sam looking forward to the Senate Banking Committee process that we will see in the coming weeks. We're on podcasts on Apple, on Spotify, on YouTube podcasts. A single best idea