PANews reported on April 21 that Federal Reserve Chairman nominee Warsh stated: Overall, the economy is close to full employment. The Fed's balance sheet is hindering its dual mandate. He favors using interest rates as the primary driver. If we cut rates, more people will benefit. The balance sheet needs to be reduced gradually and cautiously. The large balance sheet is a reason for the Fed's involvement in politics. The Fed needs to step back from fiscal affairs. He is working with the Treasury Secretary to advance the reduction of the Fed's balance sheet. Too many Fed officials are prematurely commenting on interest rates.