• Trump’s most consequential hire? Kevin Warsh testified Tuesday before the Senate Banking Committee in a high-stakes confirmation hearing as President Donald Trump’s nominee to lead the US central bank.
• New chair, new rules: Warsh vowed to introduce “regime change” at the Federal Reserve if confirmed, potentially reducing the number of policy meetings per year and suggesting a new framework for inflation.
• Political independence: Warsh faced multiple questions from senators about his ability to remain immune to pressure from Trump to cut rates immediately. Warsh defended his, and the institution’s, ability to operate outside of political interference.
