Almost exactly 20 years after his first hearing, central banker Kevin Warsh faced a hearing before the US Senate Banking Committee for the second time. At that time, it was only a matter of simple membership in the board of directors of the Federal Reserve; this time he has been nominated by President Donald Trump as the next chairman of the committee, i.e. as head of the house. On Tuesday evening, Warsh emphasized his and the Fed’s independence from political influence from the White House on monetary policy decisions. He was not a “human puppet of the president,” he said in response to a question from Republican Senator John Kennedy of Louisiana.
