Calling inflation an “unfair burden,” Federal Reserve Chairman Kevin Warsh on Tuesday reiterated his call for “regime change” at the central bank.”It has been a tax on the American people and businesses. We plan on getting rid of that tax,” he said. “That means we need a regime change in policy, and we need new consideration of practices, some of which have been working, some of which haven’t.”In remarks for delivery to separate congressional panels this week, Warsh ramped up his recent tough talk on inflation, while also touting the strength of the U.S. economy and benefits coming from business investment, particularly involving artificial intelligence.He highlighted the five task forces he has created to look at all aspects of how the Fed conducts business. The panels will examine the communications, technology, the balance sheet, economic data the Fed employs and the way it looks at inflation.Taken together, Warsh said they will further his goals to remake the central bank.”In six weeks, we have caused, I think, a sea change in new thinking-the beginning of a set of reforms that are going to be put in place across at least five dimensions in monetary policy,” he said. “We made a lot of progress in six weeks, but I think it’s important to use this opportunity wisely.”The remarks come just two months into Warsh’s term. Fed chairs are mandated to appear twice a year before Congress to deliver a monetary policy report then take legislators’ questions. “Today we are at a hinge point in history. It’s up to all of us to meet this moment,” said Warsh, w …
