New Federal Reserve Chairman Kevin Warsh was a “good choice” for the job, Warren Buffett told CNBC.
Warsh made his mark during his first meeting as chair in June, holding rates steady while outlining changes to the central bank’s approach. In Congressional testimony on Tuesday, Warsh pledged a “regime change” in Fed policy and promised to tackle inflation.
“I think he will do the best he can at achieving the job he was assigned to do, which is 2% inflation and maintaining maximum employment,” Buffett said in an interview with Becky Quick on “Squawk Box.”
“He can’t be perfect at it, and just like I know I couldn’t be perfect at taking people’s money and earning super returns on it,” he added.
Warsh took the helm in May after being nominated by President Donald Trump and confirmed by Congress. On Wednesday, he’ll return to the Capitol to testify in front of the Senate Banking Committee.
“He cares about the country,” Buffett said. “I think that’s been true of a good many. It doesn’t mean their decisions are always great, but because sometimes the decisions are so tough.”