Warsh Says Fed ‘Must Stay in Its Lane’
April 21, 2026
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4:08Now PlayingWarsh Says Fed ‘Must Stay in Its Lane’
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as posted by the channelBloomberg's Mike McKee detailed changes to the Federal Reserve that fed chair nominee Kevin Warsh revealed in his confirmation hearing Tuesday, saying that Warsh may want to change or eliminate economic guidance. Warsh told Senators that he is not a fan of the Fed's forward guidance and feels that it sticks to it too closely. Warsh also indicated that he would aim to hem in federal reserve members speaking out ahead of rate decisions.
Kevin Warsh repeatedly pledged to act independently if he’s confirmed as the next Federal Reserve chair, rejecting Democratic concerns he would be a “sock puppet” for President Donald Trump, who continues to demand lower interest rates.
Warsh, in testimony before the Senate Banking Committee Tuesday, called for a slew of changes to the way the US central bank makes its decisions, including a new framework for dealing with persistent inflation and a new way of communicating with the public. But he provided few specifics and avoided answering questions about the near-term path of interest rates.
He also insisted the president never asked him to commit to any particular rate decision.
“The president nominated me for the position, and I’ll be an independent actor if confirmed as chairman of the Federal Reserve,” Warsh said, in response to questions from Democrats about how he planned to handle pressure from Trump.
In her opening remarks, the senior Democrat on the panel, Senator Elizabeth Warren said Warsh would be Trump’s “sock puppet” at the Fed.
“Kevin Warsh hit all the right notes to reassure his supporters on the committee that he will push forward his idea of regime change at the Fed,” Joseph Brusuelas, chief economist at RSM. “He said nothing that will disrupt his path to being approved, if it makes it to the floor of the Senate.”
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