US EditionChair nominee Kevin Warsh says Fed must ‘stay in its lane’ to maintain independence
Warsh will argue that monetary policy should remain strictly independent while the Fed focuses on reforms and non-monetary coordination.
- Ahead of his high-stakes confirmation hearing, Federal Reserve Chair nominee Kevin Warsh released prepared testimony emphasizing a "reform-oriented" vision for the central bank that prioritizes price stability and strict institutional boundaries.
- Warsh argued that the Federal Reserve must "stay in its lane" to preserve its independence, warning that the institution places itself at greatest risk when it strays into fiscal and social policies—such as climate change research—where it lacks both authority and expertise.
- While committing to the "strictly independent" conduct of monetary policy, the nominee dismissed the idea that public pressure from elected officials is a threat, stating that central bankers should be "strong enough to listen to a diversity of views" from the President or Congress.
- He positioned low inflation as the Fed's "plot armor," asserting that recent price surges have caused "grievous harm" to citizens and that the central bank must take full responsibility for ensuring price stability to maintain public faith in economic governance.
- Despite his calls for reform, Warsh faces a precarious confirmation path due to a vow from Senator Thom Tillis to block all Fed nominees until a separate Justice Department investigation into current Chair Jerome Powell is resolved.
36 Articles
36 Articles
Federal Reserve Independence Largely up to the Central Bank: Kevin Warsh
Kevin Warsh, President Donald Trump’s nominee to chair the Federal Reserve, said that central bank independence is up to the institution itself, according to remarks released on April 20. Warsh’s remarks—which will be delivered at his April 21 confirmation hearing—reflect much of what he has said in public appearances over the past few years, from revisiting the conduct of monetary policy to the Federal Reserve’s track record. His prepared state…
Fed nominee Kevin Warsh to face Senate grilling over independence, interest rates at Tuesday confirmation hearing
Kevin Warsh, President Trump’s pick to lead the Fed, is expected to face a heated grilling in a Senate hearing Tuesday over his commitment to independence and whether he plans to slash interest rates.
"An independent monetary policy is essential" to take action taking fully into account the interests of the nation, said the nominee for the presidency of the US central bank, Kevin Warsh, during his hearing in the Senate, according to a document consulted on Monday by the AFP.
Fed chair nominee Warsh to field questions about Fed independence
Republicans and Democrats on the Senate Banking Committee appear poised to question Kevin Warsh, the nominee to be the next chairman of the Federal Reserve, on the central bank’s independence — but from different angles — during a hearing scheduled for Tuesday. Ranking member Elizabeth Warren is also expected to question Warsh’s financial disclosures and ties […]
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