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Kevin Warsh says he never made any promises on interest rates to Trump

By Zach Halaschak
Published Updated
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Kevin Warsh, President Donald Trump’s pick for chairman of the Federal Reserve, said in his confirmation hearing that Trump never asked him to commit to any interest rate decisions during his vetting process.

Warsh, a 56-year-old former Fed governor, testified on Tuesday before the Senate banking committee, where he faced questions about Fed independence and monetary policy. During the hearing, Warsh vowed to uphold Fed independence despite the pressure Trump has put on Fed Chairman Jerome Powell to lower interest rates.

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Confirmation Hearings Federal Reserve Inflation Interest Rates Kevin Warsh Monetary Policy Nominations Senate Banking Committee Trump Administration Washington D.C.