Warsh’s hawkish credentials are real. His hawkish future is not. Trump didn’t pick him to raise rates and crash markets before the midterms. 

If confirmed by the Senate, Warsh would succeed current Fed Chair Jerome Powell, whose term ends in May.

[Living High and Letting Die: Our Illusion of Innocence by Peter Unger (Oxford University Press, 1996; xii + 187pp.)]

It has been well said by others that so-called “Modern Monetary Theory (MMT)”—similar to the Holy Roman Empire—is not modern, not monetary, and not a theory.

Glimpses into the offices of modern financial institutions reveal dizzyingly-intricate algorithmic and computationally-driven investment strategies. Machine learning techniques and the methods of applied physics confound the layman and foster a reputation of unapproachable complexity around the realm of quantitative finance.