Kevin Warsh Tells Senate He Won't Be Trump's 'Sock Puppet' at Fed

Kevin Warsh faced tough questions from the Senate Banking Committee as lawmakers decide whether to confirm him as the next Federal Reserve chair. Trump nominated Warsh to replace the current Fed leader.

Democrats pressed Warsh on whether he would maintain the Fed's traditional independence from political influence. They quoted Trump's past comments suggesting he was confident interest rates would be cut "when Kevin was at the Fed." This worried Democrats that Trump expects Warsh to lower rates to help the economy during his presidency.

Warsh pushed back, telling senators he would not be anyone's "sock puppet" if confirmed. He said he understood the importance of the Fed making decisions based on economic data, not political pressure.

Senators also questioned Warsh about his personal finances and his relationship with Trump. The Fed chair has enormous power over the U.S. economy, setting interest rates that affect everything from mortgage payments to business loans.

The Banking Committee must vote on Warsh's nomination before it goes to the full Senate for a final confirmation vote.