Kevin Warsh faces skepticism over Fed independence pledge

Kevin Warsh, Donald Trump's nominee to succeed Jerome Powell as Federal Reserve chair, faces global skepticism about his ability to maintain the central bank's political independence. At a Senate confirmation hearing on April 21, Warsh declared he would not become the president's 'human sock puppet' and affirmed that 'monetary policy independence is essential.' However, concerns persist amid a backdrop of unprecedented tension: in January, a dozen central bank leaders issued a joint statement expressing 'full solidarity' with Powell, who has been embroiled in bitter public clashes with Trump. These escalated into a controversial Department of Justice criminal investigation into Powell over alleged cost overruns during renovation of Fed headquarters. Warsh's nomination has drawn increasing scrutiny in US and Chinese economic circles ahead of his expected full Senate confirmation hearing next week. Key questions remain whether the Fed can retain its autonomy and whether Warsh can advance his own policy agenda or be overshadowed by Powell's lingering influence.