Warsh vows to protect Fed independence at confirmation hearing

Investing.com -- Kevin Warsh, Donald Trump's nominee to be the next chair of the Federal Reserve, pledged to protect the US central bank's independence if confirmed to the role.

"I believe that monetary policy independence is earned — and better policy decisions crafted — by steering clear of distractions," Warsh said in testimony at his confirmation hearing Tuesday. "I am committed to ensuring that the conduct of monetary policy remains strictly independent."

Warsh also stated he would keep the Fed focused on its mandate and operational mission.

"Fed independence is placed at greatest risk when it strays into fiscal and social policies where it has neither authority nor expertise," Warsh said in the prepared remarks. "The Fed should not act as some general-purpose agency of the US government or as an appellate court for matters that are rightly debated and decided elsewhere."

You May Also Be Interested In

• Pakistan's Sharif: Confirm That A Final, Agreed Text Reached
• Super League Enterprise (SLE) files for 1.07M share offering by selling stockholders
• Lockheed Martin wins $2.8B in Defense contracts for F-35, helicopters