Warsh Vows to Protect Fed’s Independence If Confirmed as Chair

Kevin Warsh, Donald Trump’s nominee to be the next chair of the Federal Reserve, vowed to protect the US central bank’s independence if he is confirmed to the role.

“I believe that monetary policy independence is earned — and better policy decisions crafted — by steering clear of distractions,” Warsh said in testimony at his confirmation hearing Tuesday, according to a copy of his remarks viewed by Bloomberg. “I am committed to ensuring that the conduct of monetary policy remains strictly independent,” he said.

Kevin Warsh

Photographer: Tierney L. Cross/Bloomberg

Warsh, who is scheduled to testify before the Senate Banking Committee at 10 a.m., ...