Source: Fox News
Summary
The Senate Banking Committee will vote on President Donald Trump’s pick to lead the Federal Reserve, Kevin Warsh. Warsh’s nomination has been delayed due to a Justice Department probe into Federal Reserve Chair Jerome Powell. The probe has been closed, and the vote will determine how much influence the White House can exert over the central bank. Warsh has signaled a break from the current approach, pledging to keep monetary policy “strictly independent” and warning that the Fed has become too involved in social policy.
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As expected, the matter has reached another stage.
The Senate Banking Committee will vote on Kevin Warsh’s nomination to lead the Federal Reserve.
Warsh has signaled a break from the current approach, pledging to keep monetary policy “strictly independent”.
He has also taken aim at what he sees as a complacent central bank, warning that large institutions are prone to inertia.
The vote will determine how much influence the White House can exert over the central bank.
The process has become a familiar dance between the White House and the Federal Reserve.
Author: Evan Null
