News. Federal Reserve chair nominee Kevin Warsh will tell senators on Tuesday that “monetary policy independence is essential,” according to a copy of his testimony we obtained.
Warsh’s independence from the White House — where President Donald Trump has repeatedly demanded the U.S. central bank lower interest rates — will be a top focus for senators this week.
At the same time, Warsh will dismiss threats to the Fed’s independence from elected officials, including the president. “I do not believe the operational independence of monetary policy is particularly threatened when elected officials — presidents, senators, or members of the House — state their views on interest rates,” Warsh will say.
We first shared Warsh’s remarks on our Punchbowl News Texts platform.
