His testimony comes against the most politically charged backdrop for the central bank in decades. Trump’s scathing criticisms of Chair Jerome Powell, his attempt to fire a Fed governor and his Justice Department’s criminal investigation into Powell and the central bank have all fuelled worries that the Fed’s independence is under threat.
(April 20): Kevin Warsh has for years accused the Federal Reserve of losing its way and said it’s in desperate need of “regime change.”
Now, as President Donald Trump’s pick to be the next Fed leader, Warsh will have the opportunity to map out his plans to remould the world’s most important central bank when he testifies on Tuesday before the Senate Banking Committee.
