In his first public hearing, Donald Trump’s nominee for Federal Reserve chair Kevin Warsh faced several rounds of questions about his loyalty to the president as Trump looks to reshape a powerful global economic institution.
Trump has pushed for criminal investigations into current chair Jerome Powell over renovations at the central bank’s home in Washington, D.C., while the president continues to demand lower interest rates even as fuel prices surge with the U.S. war with Iran that has upended global markets. Warsh has denied that his nomination hinged on the president’s demands, but he repeatedly dodged questions from the Senate Banking Committee about Trump’s politicized overhaul of the Fed.
