Warsh faces major task to restore Fed trust: El-Erian

Mohamed El-Erian warned that Kevin Warsh must fix a long list of problems to restore trust in the Federal Reserve. El-Erian highlighted repeated errors, supervisory lapses, and susceptibility to groupthink within the FOMC. He argued Warsh must overhaul the Fed's outdated machinery and balance-sheet policy to succeed, beyond just managing interest rates.