Federal Reserve Nominee Warsh's Opening Statement Released, Will Pledge Rate Decision 'Independence'

BlockBeats News, April 21. The U.S. Senate Banking Committee will hold a confirmation hearing for Federal Reserve Chair nominee Kevin Warsh on Tuesday morning at 10 a.m. Eastern Time (10:00 p.m. Beijing Time on Tuesday).

According to the opening statement obtained in advance by Politico, Warsh stated that interest rate decisions must be strictly independent of political considerations, monetary policy should not be a tool for short-term political goals, and emphasized that the Fed's credibility comes from institutional constraints and policy discipline. Warsh emphasized that price stability is the Fed's hallmark and pledged to take full responsibility for it, stating, "No excuses, no evasion."

Regarding the continuous expansion of the Fed's functional boundaries in the post-crisis era, Warsh also issued a warning, advocating that its tentacles should not extend to fiscal or social policy areas where it lacks statutory authority. (Jinse Finance)