'Regime change but in a velvet glove': How Kevin Warsh has set out to remake the Fed

Federal Reserve Chairman Kevin Warsh's first big announced changes point toward a quiet revolution, with task forces set up to rethink virtually everything done to set policy and the approach used to get there.

Following his first meeting at the helm Wednesday, Warsh outlined the plan — a sprawling, ambitious endeavor entailing five task forces that will utilize resources and experts within the Fed and from the outside.