Warren Buffett told CNBC that new Federal Reserve Chairman Kevin Warsh was a “good choice” for the job.
Warsh made his mark at his first meeting as chair in June by leaving interest rates on hold while outlining a change in the central bank’s approach. In his testimony to Congress on Tuesday, Mr. Warsh pledged a “systematic shift” in Fed policy and vowed to tackle inflation.
“He’s going to do his best to accomplish what he’s set out to do, which is maintain 2% inflation and maximum employment,” Buffett said in an interview with Becky Quick on “Squawk Box.”
“He’s never been perfect at it. As I know, I’ve never been perfect at taking people’s money and making a big profit out of it,” he added.
Warsh took office in May after being nominated by President Donald Trump and confirmed by Congress. He is scheduled to return to the Capitol on Wednesday to testify before the Senate Banking Committee.
“He cares about the country,” Buffett said. “I think that’s true for quite a lot of people, not that their decisions are always great, but sometimes they’re very difficult decisions to make.”
