Kevin Warsh He is in the hot seat today as he will take over as Chairman of the Board US Federal Reserve, and his confirmation hearing is, as expected, blatantly partisan. While Republicans openly support the nomination, Democrats aim to find ways to make Warsh appear unfit to lead the central bank. The most aggressive Committee member who bullied Warsh is the Senator Elizabeth Warrena far-left politician who enjoys attacking appointees by asking pointless or off-topic questions.
It remains to be seen whether Warsh will make a good President, but his resume is excellent; because he earned a bachelor’s degree in Public Policy from Stanford, a law degree from Harvard, and previously worked at Morgan Stanley and served on the White House National Economic Council and the Federal Reserve Board. He currently serves as a Distinguished Visiting Fellow at the Hoover Institution at Stanford.
Below is Warsh’s prepared statement, which was submitted in part before his trial began.
He outlines his belief in the independence of the Fed and the maintenance of the Fed’s mandates of full employment and price stability. He also believes the Fed should “stay the course” and not stray into politics or social ideology that are not part of the central bank’s mission.
Because Republicans have a majority, Warsh is expected to be confirmed eventually.
