Kevin Warsh to Senate: 'Fed Independence Is Largely Up to the Fed' -- WSJ

Dow Jones00:36

By Nick Timiraos

In prepared remarks for his confirmation hearing on Tuesday before the Senate Banking Committee, Federal Reserve chair nominee Kevin Warsh plans to say that the central bank's independence depends less on political pressure than on its own discipline, according to a copy of his remarks.

His opening statement, earlier reported by Politico, makes three points:

-- Fed independence is self-enforced. Politicians voicing views on rates aren't the real threat, he says. Rather, it's the Fed's own discipline and rigor that preserves its independence.

-- Stay in your lane. Warsh warns against post-crisis mission creep, arguing the Fed shouldn't stretch into fiscal or social policy where it lacks authority.

-- Inflation is a choice. Price stability is the Fed's "plot armor," and Warsh commits to taking responsibility for it "without excuse or equivocation."

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

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April 20, 2026 12:36 ET (16:36 GMT)

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