Powell says Warsh has the skills to be 'very good' at creating consensus as Fed chair

• Monetary policy decisions are made by 19 people on the FOMC, with 11 voting members annually.
• A Fed Chair's primary job is to create consensus by understanding and unifying the thinking of FOMC colleagues.
• Powell believes Kevin Warsh has the capabilities and skills to be 'very good' at creating consensus as a Fed Chair.

Jerome Powell discusses the essential qualities for a Federal Reserve Chair, emphasizing the importance of creating consensus among the 19 members of the Federal Open Market Committee (FOMC). He notes that 11 members vote each year and the chair's role is to unify their diverse perspectives. Powell specifically states that Kevin Warsh possesses the skills to be 'very good' at this consensus-building process.