Kevin Warsh emphasized at Tuesday's Senate confirmation hearing that, if appointed Fed chair, he would act strictly independently of the president, stating that Trump had never asked him to commit to any specific interest rate policy—even as the White House continues to publicly pressure him recently. Facing Democratic senators on the Banking Committee concerned that he might become a presidential "echo," Warsh said he would not comply even if Trump made such a request. However, Warsh’s nomination now faces more immediate political obstacles. Republican Senator Thom Tillis of North Carolina explicitly stated he would not advance Warsh’s nomination until the Justice Department concludes its “false” criminal investigation into current Fed Chair Powell—despite personally supporting Warsh. Trump refused to comment during an interview that day on whether he would halt the probe, indicating that this impasse over Fed personnel and independence is unlikely to be resolved in the short term.
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Original: toutiao.com/article/1863147699288075/
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