Kevin Warsh: Trumpâs ideal choice to push Fed to cut interest rates
Former Wall Street banker faces questions at confirmation hearing â but his biggest backer is also his biggest liability On the face of it, Kevin Warsh looks like an ideal candidate to chair the Federal Reserve, the worldâs most important central bank. The 56-year-old Ivy League economist, former Wall Street banker and presidential adviser ticks all the boxes. Unfortunately for Warsh, as he faces what could be a fraught nomination hearing, his biggest backer is also his biggest liability. In his second term, Donald Trump has attacked the Fed in a manner both unprecedented and unseemly. He has called current chair Jerome Powell â whom he also appointed â a âjerkâ and âa stubborn MORONâ, and repeatedly threatened to fire him. The tension comes from Trumpâs desire for lower interest rates. The problem: the president canât set interest rates. But Trump thinks heâs found a saving grace in Warsh. Warsh is set to appear in front of the Senateâs banking committee for his nomination hearing on Tuesday morning, where he is expected to be grilled by Democrats and Republicans alike. The hearing comes at a tumultuous time for the central bank. Trumpâs campaign against
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