Kevin Warsh Says He Will Not Be Trump’s “Sock Puppet” if Confirmed as Fed Chair

Kevin Warsh, nominated by Donald Trump to lead the Federal Reserve, told U.S. senators he would act independently and “absolutely not” serve as a political tool if confirmed as chairman. The confirmation hearing comes as the term of current Federal Reserve Chair Jerome Powell is set to expire in May, placing attention on the future direction of U.S. monetary policy.

Warsh signaled support for lowering interest rates, a stance that aligns with Trump’s long-standing criticism of Powell over past rate increases. The president and Powell have repeatedly clashed over interest rate decisions, making the nomination politically sensitive and closely watched by financial markets.

Lawmakers Split Over Warsh Nomination and Powell Probe

During the hearing, Senator Tim Scott, the Republican chair of the Senate committee, described Warsh as “battle-tested” and capable of leading the central bank. However, Democratic ranking member Elizabeth Warren warned that Warsh could act as a “sock puppet” to advance Trump’s economic agenda.

Warsh rejected that characterization, insisting he would maintain the Federal Reserve’s independence if confirmed. Meanwhile, Republican Senator Thom Tillis indicated he could block the nomination until a federal investigation involving Powell is resolved, adding further uncertainty to the confirmation process.

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