Kevin Warsh ends the drama at the Fed.

Politics and personalities should no longer enter the discussion of Fed decisions under Warsh. Given his background, experience, and track record, Warsh has established himself as a no-nonsense financier whose overriding goal is to bring long term stability to the U.S. economy.

Warsh, 55, has a Stanford degree in public policy, followed by a Harvard law degree. After Harvard, he worked in corporate finance at Morgan Stanley before joining the Bush administration as a special economic adviser to George W. Bush. In 2006, at the tender age of 35, Bush appointed him to the Fed, where he served until 2011, some of the most turbulent times in U.S. economic history. He was also one of the youngest governors in the history of the Federal Reserve.

While at the Fed, Warsh was a key contributor to the policies that rescued the U.S economy during and after the 2008 Crash. He is best known for his policies regarding TARP (Troubled Asset Relief Program) that brought liquidity back to the U.S. economy. Nonetheless, as a Fed Governor during that time, he was firm in his stance against inflation and also pushed hard to minimize Quantitative Easing, the expansion of the Fed's balance sheet through the purchase and holding of securities while providing liquidity to the economy.

After the Fed, Warsh pursued his interests in academia and public policy, and his writings and speeches made him a thought leader in fiscal and economic policy.

Going forward, Warsh will remain committed to his ideal of long-run stability superseding short-term economic fluctuations. It is possible he will undo the open Fed communications policy started by Fed Chairman Powell, and return to a more secretive Fed, which is typical of the past. Until Fed Chairman Benjamin Bernanke, Fed meetings did not routinely feature press conferences. Moreover, Warsh will not be data-dependent, certainly in periods of less than 6 months. Rather, he will measure the forces shaping economic change and steer them towards optimal inflation and employment.

Further, Hawkish or Dovish will not apply to him. He will use interest rates as merely one of many tools to achieve key economic goals. If there is a possibility of veering from past Fed policy, it is steeped in his stated belief that Congress and the President are empowered with shaping the nation’s economic vision, and the Fed is tasked with aiding in the achievement of those goals.

That is why Warsh is likely to lower rates, as he shares the Trump administration’s view that tariffs are not necessarily inflationary and that lower interest rates boost productivity. Likely, Warsh realizes that the burgeoning budget deficit and trade deficits must be addressed, and that lower interest rates, along with higher productivity, are key to narrowing those yawning gaps.

At least that is the hope.