Federal Reserve Governor Christopher Waller called for a shakeup in the US central bank’s operations, arguing that key functions should be centralized and subject to less consensus-building among its 12 regional reserve banks.

Sen. Tim Scott, R-S.C., the chairman of the Senate Banking Committee, praised Warsh, saying the Fed nominee would focus Fed policy on economic stewardship. During the tenure of President Joe Biden, Scott claimed, the Fed shifted some of its attention to the implications of issues like climate change.