Arabic version: كيفن وارش يواجه أسئلة صعبة خلال جلسة تأكيده في الاحتياطي الفيدرالي
Kevin Warsh has faced intense scrutiny during his confirmation hearing for the position of Federal Reserve chairman, clashing with Democratic senators over various issues. According to BBC News, discussions included accusations of him being a “sock puppet” for President Donald Trump and concerns regarding his financial ties to Jeffrey Epstein.
Senator Elizabeth Warren, the ranking Democrat on the banking committee, accused Warsh of potentially serving Trump’s interests if confirmed. She argued that having someone aligned with the president could compromise the Fed’s independence, which Warsh vehemently denied, stating, “Absolutely not.” He emphasized the importance of the central bank’s autonomy and his commitment to maintaining it.
Warren also pressed Warsh on his financial disclosures, particularly regarding a significant investment fund worth at least $100 million. While he did not directly answer whether his investments were linked to Trump or Epstein, he indicated a willingness to divest his holdings if confirmed.
Additionally, Warsh refuted claims that he had made any deal with Trump regarding interest rates. He insisted that the president had not asked him to commit to any specific monetary policy decisions. This statement came in light of comments from Trump expressing disappointment if Warsh did not act to lower interest rates promptly.
The hearing also featured Republican Senator Thom Tillis, who withheld his support for Warsh’s confirmation until an inquiry into outgoing Fed chairman Jerome Powell is resolved. Despite praising Warsh’s qualifications, Tillis stated that he would not vote in favor until the investigation into Powell’s management of Fed renovation costs is concluded.
Warsh outlined plans to reform how the Fed assesses inflation and communicates its policies, criticizing the current methods as unhelpful. He suggested a shift away from established practices, though specifics on his proposed changes remain unclear.
