{"id":410919,"date":"2026-04-22T01:00:15","date_gmt":"2026-04-22T01:00:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/410919\/"},"modified":"2026-04-22T01:00:15","modified_gmt":"2026-04-22T01:00:15","slug":"kevin-warsh-says-he-will-not-be-trumps-sock-puppet-if-confirmed-as-fed-chairman","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/410919\/","title":{"rendered":"Kevin Warsh says he will not be Trump’s ‘sock puppet’ if confirmed as Fed chairman"},"content":{"rendered":"

Fed independence is up to the Fed, Warsh sayspublished at 17:02 BST 21 April<\/p>\n

17:02 BST 21 April<\/p>\n

\"\"Anthony Zurcher
North America correspondent<\/p>\n

Looming over today\u2019s confirmation hearings is Donald Trump\u2019s repeated demand that the Federal Reserve lower inflation rates \u2013 and his complaint that it has been too reluctant to do so during his first year back in the White House.<\/p>\n

Lower rates would ease the cost of borrowing, juicing US economic growth, improving public confidence and, the president hopes, leading to a political windfall for Republicans.<\/p>\n

He has given current Fed Chair Jerome Powell the nickname \u201ctoo late\u201d for his reluctance to lower rates in the face of persistent inflation. And early today, he said he would be \u201cdisappointed\u201d if Warsh didn\u2019t quickly lower rates upon his confirmation.<\/p>\n

At least so far today, Warsh has seemed more concerned with the dangers of inflation than with rate cuts. He said the Fed made a \u201cfatal policy error\u201d in 2020, which he said let higher inflation \u201ctake hold\u201d and that Trump has never asked him to \u201cpredetermine, commit, fix, decide on any interest rate decision\u201d.<\/p>\n

Presidents, he said, always want lower interest rates. The difference with Trump is that he makes his views very public.<\/p>\n

\u201cBut Fed independence is up to the Fed,\u201d he concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"Fed independence is up to the Fed, Warsh sayspublished at 17:02 BST 21 April 17:02 BST 21 April…\n","protected":false},"author":2,"featured_media":410920,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":{"0":"post-410919","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-ie","11":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/410919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=410919"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/410919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/410920"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=410919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=410919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=410919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}