US senators have questioned Kevin Warsh, President Donald Trump’s pick to be the next chair of the country’s central bank
Current Federal Reserve Chair Jerome Powell’s term ends in May
Trump and Powell have repeatedly clashed – particularly on the issue of raising interest rates. Warsh says he supports lowering them
Senator Tim Scott, the Republican chair of the Senate committee questioning Warsh, says the nominee is “battle-tested” for this job, while Democratic ranking member Elizabeth Warren says Warsh would be a “sock puppet” for Trump to further his economic agenda
Warsh counters that he would “absolutely not” be a puppet for Trump if confirmed for this position and would act independently
Senator Thom Tillis, a Republican and key member of the committee responsible for confirming Walsh, has stated he may block Warsh’s confirmation until a federal probe into Powell is dropped
