Warsh Pledges Fed Independence, Says Federal Reserve Lacks CBDC Authority
Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, told senators he would make monetary policy decisions independently of any advice or pressure from Trump and said he would “absolutely not” be the president’s “human sock puppet.” He also said Trump had not asked him to commit to specific rate decisions.
At his confirmation hearing, Warsh said the Fed needs a new framework for dealing with persistent inflation, though he did not offer specifics. He also said he would not move the central bank toward a central bank digital currency if confirmed, arguing the Federal Reserve has no legal right to issue one and that doing so would be a bad policy choice.
From the sources (25 posts)
@bitcoinmagazineJUST IN: 🇺🇸 White House pick for Fed Chair says the Federal Reserve has no legal right to issue a CBDC. "It would be a bad policy choice." 👏
@reutersWarsh came under fire from Democrats in the Senate over his plans to divest tens of millions of dollars in financial assets if confirmed to lead the central bank
@reutersWarsh told senators he would make monetary policy decisions independent of any advice or pressure from President Trump, highlighting success in keeping inflation low as the ‘plot armor’ that would insulate the central bank from criticism ht
@eleanorterrettWarsh just committed to Senator @berniemoreno that he won’t have the Fed move towards a central bank digital currency if he’s confirmed and it’s within his power as chairman to do so. He also said he agrees that the Fed does not have the ri
@eleanorterrettWarsh on debanking: “Politics have no place not just in monetary policy but in supervision and regulation. If central bankers should stand for anything it’s to resist fads, resist trends, call balls and strikes. That’s exactly what I would
@cointelegraph🚨 JUST IN: Kevin Warsh says Donald Trump never asked him to commit to a rate cut at any meeting.
@unusual_whalesKevin Warsh: Trump never asked me to cut rates at particular meeting
@businessKevin Warsh, Donald Trump's nominee for Federal Reserve Chairman, said he would "absolutely not" be the president's "human sock puppet," adding that Trump has not asked him to commit to making certain rate decisions
@bitcoinnews🇺🇸 When asked if digital assets should be incorporated into finance, Fed chair nominee Kevin Warsh had a direct answer. 🗨️ "Senator, digital assets are already part of the fabric of our financial services industry in the United States, yes
@politico‘Sock puppet’: Warsh, Warren clash over financial disclosure, Fed independence
@brendanpedersenGallego is grilling Warsh about whether Trump actually asked him to commit to lowering interest rates. Warsh continues to say that Trump didn't ask for cuts "at any particular meeting" Warsh suggests news reports to the contrary were false
@deitaoneWARSH: TRUMP NEVER ASKED ME TO COMMIT TO RATE CUT AT ANY PARTICULAR MEETING WARSH: I WOULD NEVER DO THAT
@zerohedge*WARSH: TRUMP NEVER ASKED FOR RATE CUTS AT PARTICULAR MEETING
@deitaoneWARSH: REPORTERS WHO REPORTED THAT TRUMP PRESSED WARSH TO CUT RATES NEED BETTER SOURCES
@brendanpedersenSen. Gallego (D-Ariz) asks Warsh to say whether he will continue to hold FOMC press conferences. Warsh does not "If you ask me my true personal opinion right now, Fed chairs and other central bankers around the FOMC, they speak quite frequ
@coindeskSenator Lummis: "Do you believe that digital assets should be incorporated into our financial industry so Americans have new investment opportunities and consumer protections? " Warsh: "Senator, digital assets are already part of the fab
@robustusRT @financialjuice: Fed Chair Nominee Warsh: That's probable moving forward.
@coinmarketcapUPDATE: 🇺🇸 Fed chair nominee Kevin Warsh told the Senate he will "absolutely not" be Trump's "human sock puppet," stating he will remain independent.
@theblockcoRT @ForTheWynn_: Got a direct crypto mention during today's nomination hearing for Fed Chair pick Kevin Warsh. Sen. Lummis asks if digita…
@eleanorterrett.@SenLummis: “Do you believe that digital assets should be incorporated into our financial industry so Americans have new investment opportunities and consumer protections?” Warsh: “Senator, digital assets are already part of the fabric o
@zerohedgeWarsh said the Fed's balance sheet has played "an unhelpful role" in achieving the dual mandate and prefers to use interest rates to implement monetary policy.
@robustusRT @financialjuice: Fed Chair Nominee Warsh: I prefer using interest rates as the dominant force; if we were to cut rates, a broader range…
@financialjuiceFed Chair Nominee Warsh: Too many Fed officials opine in advance on rate path.
@firstsquawkWARSH: FED'S BALANCE SHEET HAS PLAYED UNHELPFUL ROLE ON ACHIEVING DUAL MANDATE || PREFER USING INTEREST RATES AS DOMINANT FORCE
@brendanpedersenSen. Lummis (R-Wyo.) asks Warsh about the Fed's balance sheet. "I believe we need a smaller central bank balance sheet. It took us 18 years to create this big balance sheet that's done quite a bit of harm, it strikes me, to the Fed's cred