Kevin Warsh says the Fed is broken. He’s taking dead aim at Powell’s job.

Kevin Warsh, a former Federal Reserve governor seen by Wall Street as the front-runner to replace current Fed Chair Jerome Powell, on Friday sharply criticized fundamental practices of the central bank. Speaking before a standing-room audience at a conference on the sidelines of the International Monetary Fund and World Bank annual meetings in Washington, Warsh said the central bank talks too much, gets too involved in social issues of the day and lets lawmakers not pay for their excessive spending..