April 21 (UPI) -- Kevin Warsh's commitment to keeping the Federal Reserve independent from the executive branch was put to the test Tuesday as the Senate Banking Committee got underway with his confirmation hearing.
Warsh is President Donald Trump's nominee to become chairman of the Fed, replacing Jerome Powell, who Trump has criticized over his interest rate policy decisions and repeatedly threatened to fire.
In his opening remarks, the former Fed governor challenged suggestions he would not maintain independence from Trump.
"I do not believe the operational independence of monetary policy is particularly threatened when elected officials -- presidents, senators or members of the House -- state their views on interest rates," he said.
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