Before lawmakers on Tuesday, Kevin Warsh embraced a reform-minded approach to modernizing the Federal Reserve while staunchly rebutting suggestions President Donald Trump had ever asked him to lower interest rates or commit to lowering rates as a condition of his nomination to replace Jerome Powell as Fed chair.
In sometimes heated exchanges, Senate Banking Committee members pressed Warsh on a range of topics from AI and interest rates to affordability, digital assets and geopolitical banking risks.
Warsh’s nomination is expected to pass along mostly party lines, though his timeline to confirmation may be delayed due to an active criminal probe into Powell that a number of committee members have demanded be resolved before proceeding with W...