In this compelling segment of Lykken on Lending, the team unpacks former Fed Governor Kevin Warsh’s pointed critique of the Federal Reserve and Chairman Jerome Powell. Warsh’s appearance on Fox Business stirred the industry with calls for immediate rate cuts, criticism of the Fed’s $4 billion office project, and concern over its growing politicization. The panel—led by Alice Alvey and featuring David Kittle, Bill Corbett, Marc Helm, and Allen Pollack—analyzes Warsh’s claims, the implications for monetary policy, and the credibility risks facing the Fed. With inflation signals still uncertain and CPI data looming, the group weighs whether the Fed is responding fast enough—or if it’s stuck in a decision-making lag that could have long-term consequences.