Kevin Warsh says ‘we need to take politics out of monetary policy’ as Elizabeth Warren calls him Trump’s ‘sock puppet’
Donald Trump’s nominee for US Federal Reserve chair, Kevin Warsh, faced a tumultuous hearing in Washington on Tuesday, fielding scrutiny over his wealth and his ability to operate independently of the president who appointed him.
Should he be confirmed, Warsh will hold one of the most powerful roles in the US federal government, with massive influence over the global economy and the ability to move markets.
During a hearing before the Senate banking committee, Warsh did his best to bat away questions that he argued verged too far into “politics”. But Warsh’s nomination was punctured with politics long before he sat down for the hearing, something that became clear as soon as he appeared before the Senate.
Of course he’s just saying that. He’ll do whatever Trump wants and destroy the dollar in the process. While Powell’s term as Fed Chair is up in May, he still has a few years on his governorship, which is why Trump says he’ll fire him, and you can absolutely bet he will. Between Tariffs and the Iran War, Trump is killing the economy, and the only way to stave off a blood bath in the midterms is to juice the economy with low rates. It’s a matter of survival for Trump, so you can bet 100% that Powell will be gone. Whether by firing or stochastic terrorism that Trump enjoys stoking, Powell’s days as a fed governor are numbered.