Kevin Warsh, US President Donald Trump’s nominee for Federal Reserve chair, told senators he would protect the central bank’s independence if confirmed.
During his Senate hearing, Warsh rejected criticism that he would follow Trump’s political agenda. He said interest-rate decisions would be based on economic data and long-term stability.
Warsh also criticised the Fed’s past handling of inflation, saying it must rebuild credibility. His nomination is being closely watched as the Federal Reserve plays a major role in controlling inflation, borrowing costs and guiding the US economy.