Kevin Warsh says he didn’t make a deal with the US president to lower interest rates in exchange for the job
The president of the United States, (Republican Party), for the presidency of the (Federal Reserve, the Central Bank of the USA), responded on Tuesday (April 21, 2026), during a confirmation hearing before the US Senate Banking Committee, to the criticism he has been receiving. The committee is considering Warsh’s nomination to replace Jerome Powell, whose term ends on May 15.
At the hearing, the senator (Democratic Party) said that Warsh would be a “puppet” of Trump at the head of the Fed.”Having a puppet in charge of the Fed would give the president access to powerful Fed officials to enrich himself, his family, and his friends on Wall Street.”she stated.
When asked if it would be “puppet” of the US president, the 56-year-old lawyer and financier responded: “Absolutely not”. Stated that the independence of the U.S. central bank “It’s essential” and which will preserve the autonomy of the institution.
The Democratic senator questioned Warsh about his financial holdings and possible ties to the billionaire, convicted of sex trafficking and killed in 2019. “Os [fundos] invest in companies affiliated with President Trump or his family, companies that facilitated money laundering, companies controlled by China, or financing vehicles established by Jeffrey Epstein?”asked the senator.
He declined to answer but said he planned to divest his holdings if confirmed as Fed chairman.
Warsh took advantage of the hearing to deny having made a deal with Trump to reduce interest rates in exchange for the job offer.
“The president has never asked me to commit to any specific decision on interest rates, period, and I would never have agreed to do so even if he had asked, but he never did.”he said.
Warsh asked for a “regime change” at the Fed, which would include a new “structure” to control inflation and a possible review of the way the bank communicates with the public about monetary policy.
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