Lates News

Federal Reserve Chairman Kevin Warsh sent a memo to the central bank's more than 20,000 employees as he began his four-year term, pledging to follow the "best traditions of the Federal Reserve" while also promising to extensively review which tasks could be done in different ways to advance progress. The memo provided an early glimpse for outsiders into Warsh's efforts to push forward his broad reform agenda. In his view, the Federal Reserve had drifted from its core mission; at the same time, he also attempted to repair relationships with colleagues and staff who had been criticized by him in the past. (Reuters)