BlockBeats News, February 12th, Krishna Guha of Evercore ISI stated that Kevin Warsh's hawkish stance on inflation may have been exaggerated. While his nomination initially pushed up yields and pushed down the price of gold, Warsh should be seen more as a pragmatic conservative who can distinguish between supply-driven inflation and demand-driven inflation – making Fed policy under his leadership potentially more flexible.Warsh has previously noted that artificial intelligence and productivity gains are positive supply shocks that could alleviate the pressure for a tightening policy. He also supports the Fed's balance sheet reduction but is unlikely to pursue aggressively tight policies that could disrupt the markets. In a politically charged environment, it is expected that the Fed's consensus-driven policy will continue to be implemented, albeit under extraordinary pressure.