Fed Chair Nominee Kevin Warsh Says Central Bank Will Remain 'Strictly Independent'

Source: International Business Times

Kevin Warsh C-SPAN President Donald Trump's nominee to be the next chair of the Federal Reserve, Kevin Warsh, said in his confirmation hearing Tuesday that the central bank will remain "strictly independent" and rejected he will be the president's "sock puppet. ""I am committed to ensuring that the conduct of monetary policy remains strictly independent," he told the Senate Banking Committee. Read moreQuestions About Fed Leadership Arise As Kevin Warsh Nomination Faces ScrutinyWarsh was grilled by senators about his independence should he be confirmed, particularly considering Trump's demands that interest rates are cut soon to boost economic activity, as well as the stock market.