US EditionChair nominee Kevin Warsh says Fed must ‘stay in its lane’ to maintain independence
Warsh says monetary policy must stay independent as he signals support for a leaner Fed and faces questions over $100 million in assets.
- On Tuesday, the Senate Banking Committee holds a confirmation hearing for Kevin Warsh, President Donald Trump's nominee to succeed Fed Chair Jerome Powell, testing his plans to reshape monetary policy.
- Warsh, who previously served as a Fed governor from 2006 to 2011, has criticized the central bank for overreach, stating 'Fed independence is largely up to the Fed' while advocating for a leaner, more disciplined institution.
- Democratic senators are expected to scrutinize Warsh's $100 million in assets disclosed last week, alongside his strategy for the Federal Reserve's $6.7 trillion portfolio without triggering a destabilizing credit squeeze.
- Treasury Secretary Scott Bessent last month rejected the idea of a Treasury-Fed Accord, as the Federal Reserve faces pressure to lower rates despite the Consumer Price Index surging to 3.3% in March.
- The Fed chair holds discretion to shrink the central bank's DC-based workforce from roughly 3,200 toward a goal of around 2,000 employees in the coming years, potentially triggering additional layoffs.
97 Articles
97 Articles
Associated Press News
Trump's Federal Reserve nominee to face tough hearing before Senate panel
Kevin Warsh is taking another step toward his decade-long goal of winning the top job at the Federal Reserve by appearing at a hearing before the Senate Banking Committee on Tuesday.
Fed chief nominee Warsh commits to central bank's independence, with limits
WASHINGTON — Kevin Warsh, who is President Donald Trump's nominee to lead the Federal Reserve, will tell lawmakers at his Senate confirmation hearing on April 21 that he is "committed to ensuring that the conduct of monetary policy remains strictly…
US President Donald Trump’s candidate to preside over the Federal Reserve, Kevin Warsh, faces one of the most momentous moments of his career this Tuesday during his speech at a confirmation hearing in the Senate. During his statement he will promise to protect the institution’s autonomy. “I believe that the independence of monetary policy is won, and better political decisions are made, avoiding distractions,” he plans to declare Warsh before t…
iosconews.com
Trump's Fed chair pick to face lawmakers at key confirmation hearing
Kevin Warsh, US President Donald Trump's choice to lead the Federal Reserve, will vow to protect central bank independence on interest rates at a crucial confirmation hearing Tuesday, according to remarks seen by AFP.
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