Kevin Warsh, a former member of the Federal Reserve board of governors, on Thursday called for a regime change at the central bank.

“We need regime change in the conduct of policy,” Warsh, considered one of three or four finalists to take over at the Fed, told CNBC’s “Squawk Box.” “The credibility deficit lies with the incumbents that are at the Fed, in my view.”

Warsh also called for sweeping changes on how the central bank conducts business.

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