Kevin Warsh argues Fed transcript releases hurt monetary debate and calls for major overhaul

The Fed’s transparency tool may be undermining policy

Incoming Fed leader Kevin Warsh says curbing the release of Federal Reserve meeting transcripts could improve the quality of debate behind monetary policy. In an upcoming book, Warsh argues the transparency practice—used for decades—may actually weaken deliberations needed for better decisions, echoing his broader push to overhaul the Fed’s approach and structure.