Kevin Warsh: Trump's man at the Fed or independent voice?
Key takeaways
- Never before has a chair of the US Federal Reserve been so controversial.
- But some, particularly Democrats, question how independent Warsh will be as head of the world's most powerful central bank.
- Among them is Democratic Senator Elizabeth Warren, who described Warsh as Trump's "sock puppet” during his Senate confirmation hearing in April.
Why this matters: an international story with cross-border implications worth tracking.
Never before has a chair of the US Federal Reserve been so controversial. Who is Kevin Warsh? Can he preserve the Fed's independence, or will he become Donald Trump's puppet?
https://p.dw.com/p/5E7n IThe Fed chair is one of the most powerful persons in the US, overseeing the central bank's decisions on interest rates Image: Alastair Grant/AP Photo/dpa/picture alliance Advertisement US President Donald Trump will hold a swearing‑in ceremony on Friday for the new Federal Reserve chair, Kevin Warsh — an unusual step, since Fed chairs are not normally sworn in at the White House, and presidents usually don't attend, given that the Fed is meant to be politically independent.
But some, particularly Democrats, question how independent Warsh will be as head of the world's most powerful central bank.