Fed Chair Nominee Warsh Says Economy Close To Full Employment Now; Fed's Balance Sheet Has Played Unhelpful Role On Achieving Dual Mandate; Prefer Using Interest Rates As Dominant Force; If We Were To Cut Rates, Broader Range Of People Would Benefit; Big Balance Sheet Is A Reason Fed Is In Politics; Need Smaller Balance Sheet Slowly, Deliberately; Working With Treasury Secretary Need To Make Fed's Balance Sheet Smaller