Internet reported that at an event on Friday, former Federal Reserve Governor Kevin Warsh, regarded by Wall Street as the top favorite to replace current Federal Reserve Chairman Powell, severely criticized some of the Fed's practices. Facing a packed audience at a branch venue during the annual meetings of the IMF and World Bank, Washi said that the Fed talks too much, gets too involved in current social issues, and fails to hold lawmakers accountable for its excessive spending. Walsh advocates that the Fed should return to its traditional positioning-keeping a low profile as it has for most of the past 100 years and not explaining too much to the public about its monetary policy and financial stability measures. Washi's view seems to be consistent with Trump's view that Powell has been exposed too much in the media. "Fed leaders would do well to avoid sharing their latest ideas frequently," Walsh said on Friday. He added that Fed officials should not release their own economic forecasts because it would make them "limited by what they say." Walsh even pointed out that the Fed should not rely too much on economic data when making decisions because this "data dependence" is not of great value. He emphasized that data released by the government often lags behind and is susceptible to subsequent revision. In his speech, Walsh did not express specific views on the outlook for inflation and interest rates, but said instead that the Fed should not disclose its expectations for future interest rate movements to the market. "Central banks should readjust to working in an environment where there is no applause and no audience holding their breath," he said.