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Kevin Warsh Asserts Independence During Senate Confirmation Hearing for Fed Chair

KVIA•Tuesday, April 21, 2026 at 5:14 PM•CNN Newsource

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AI Summary

Kevin Warsh, nominated by President Trump to lead the Federal Reserve, firmly denied allegations that he would be influenced by the President during his Senate Banking Committee confirmation hearing. Responding to questions, Warsh emphasized his commitment to operate independently, despite Trump's public calls for lower interest rates. Senator Elizabeth Warren raised concerns about potential political motivations affecting Fed decisions, while Senator Thom Tillis vowed to block Warsh's confirmation until a criminal investigation into current Fed Chair Jerome Powell is resolved. Warsh also suggested the possibility of reducing the frequency of monetary policy meetings, which would deviate from the Fed's long-standing practice.

Key Details: • Warsh stated he would not be a 'puppet' for Trump or anyone else. • Senator Tillis plans to block confirmation until the investigation into Powell is resolved. • Warsh indicated a willingness to consider fewer than eight monetary policy meetings per year.

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People & Organizations

Donald TrumpFederal ReserveJerome PowellElizabeth WarrenThom TillisJohn KennedyKevin WarshSenate Banking Committee

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