Jin10 data reported on July 17th that one of the candidates for the next chair of the Federal Reserve, Kevin Warsh, stated that the independence of the Fed is "crucial." In an interview with CNBC, Warsh said, "History tells us that independent action in the implementation of monetary policy is essential, but that does not mean the Fed has independence in all other matters." Warsh adhered to a hawkish interest rate policy aimed at addressing inflation risks during his tenure as a member of the Federal Reserve Board of Governors from 2006 to 2011; however, this year he advocates for rate cuts, a position consistent with President Trump. Trump is considering who to nominate to succeed Powell after his term ends in May (next year).
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Fed Chair candidate Waller: Fed independence is "crucial"
Jin10 data reported on July 17th that one of the candidates for the next chair of the Federal Reserve, Kevin Warsh, stated that the independence of the Fed is "crucial." In an interview with CNBC, Warsh said, "History tells us that independent action in the implementation of monetary policy is essential, but that does not mean the Fed has independence in all other matters." Warsh adhered to a hawkish interest rate policy aimed at addressing inflation risks during his tenure as a member of the Federal Reserve Board of Governors from 2006 to 2011; however, this year he advocates for rate cuts, a position consistent with President Trump. Trump is considering who to nominate to succeed Powell after his term ends in May (next year).