US EditionKevin Warsh says he will not be Trump's 'sock puppet' if confirmed as Fed chairman
Warsh said he would keep the central bank independent as senators pressed him on Trump’s rate demands and more than $100 million in undisclosed assets.
- Federal Reserve nominee Kevin Warsh called for a "regime change" and new inflation framework at his confirmation hearing before the Senate Banking Committee, blaming the central bank for post-pandemic inflation that continues hurting American households.
- Warsh argued that "the fatal policy errors going back four or five years" created lasting economic damage, noting prices rose 25 to 35 percent after COVID-19, indicating the Fed missed its mark during 2021 and 2022.
- Proposing a new inflation framework, Warsh argued the central bank must "stay in its lane," suggesting current Fed communications "compounded" the problem and may need overhaul of quarterly economic projections.
- Addressing comments from President Donald Trump, Warsh insisted "monetary policy independence is essential," while acknowledging that "presidents tend to be for cutting rates." Trump had expressed disappointment if Warsh's confirmation was delayed.
- Democratic senators questioned Warsh's disclosure of more than $100 million in assets, citing potential conflicts of interest despite his agreement to divest upon confirmation. The timing of a full Senate vote remains uncertain.
200 Articles
200 Articles
Fed chair nominee vows he'll be independent of Trump
WASHINGTON — President Donald Trump’s pick to lead the Federal Reserve, Kevin Warsh, vowed in congressional testimony that the central bank will remain “strictly independent” if he’s confirmed to the top spot, even as the president has broadcast his demand for the new Fed chair to lower interest rates. Warsh, a former Fed board governor, […] The post Fed chair nominee vows he’ll be independent of Trump appeared first on Asia Times.
Hawaii Tribune-Herald
West Hawaii TodayFed pick faces skepticism over claim of independence from Trump
Kevin Warsh, President Donald Trump’s pick to lead the Federal Reserve, asserted repeatedly at a combative confirmation hearing Tuesday that he would not cut interest rates simply because Trump wanted him to, pledging to be “strictly independent” if confirmed for one of the world’s most powerful economic positions. The post Fed pick faces skepticism over claim of independence from Trump appeared first on Hawaii Tribune-Herald.
Kevin Warsh, nominated by President Donald Trump for the position of President of the Federal Reserve (Fed), said during his confirmation hearing in the Senate Banking Commission that the US central bank must remain independent of the White House and that Trump never asked it to reduce interest, CNBC says.
Kevin Warsh, Donald Trump’s nominee for the new president of the Federal Reserve (Fed), went through the confirmation hearing in the Senate. Between crossings with Democratic senators, Warsh said that, if confirmed, he would maintain the independence of the Fed and improve the results of the agency’s primary mission: the stability of the economy’s prices. If confirmed, Warsh will succeed Jerome Powell. While he was nominated by Trump himself in …
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