Warsh Says He'd Be an Independent Actor as Fed Chair
Speakers
Summary
Kevin Warsh, President Trump's nominee for Federal Reserve chair, testifies before the Senate Banking Committee. He acknowledges past Fed policy errors in 2021-2022 and calls for a regime change in monetary policy conduct. He emphasizes that Fed independence must be earned by delivering on commitments and pledges to be an independent actor if confirmed.
- Warsh references Fed policy errors in 2021 and 2022.
- He advocates for a regime change in policy conduct.
- He suggests a new inflation framework could lead to lower rates.
- He states Fed independence must be earned by delivering on commitments.
- He confirms President Trump never asked him to predetermine rate decisions.
- He pledges to be an independent actor as Fed chair.
