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PBS News Hour - Segments

Fed nominee Warsh questioned on independence from Trump and personal wealth

PBS News Hour - Segments

PBS NewsHour

News, Daily News

4.11K Ratings

🗓️ 21 April 2026

⏱️ 9 minutes

🧾️ Download transcript

Summary

President Trump's pick to lead the Federal Reserve, Kevin Warsh, was on Capitol Hill facing a slew of lawmaker questions on his monetary policy and independence from Trump. But the president's pressure campaign against Jerome Powell threatens to freeze Warsh's nomination. Amna Nawaz discussed more with David Wessel of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

Transcript

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0:00.0

President Trump's pick to lead the Federal Reserve, Kevin Warsh, was on Capitol Hill today,

0:06.0

facing a slew of lawmaker questions on his monetary policy and independence from Trump.

0:12.0

All that, as the president's pressure campaign against current Fed Chair Jerome Powell

0:17.0

threatens to freeze Warsh's nomination indefinitely.

0:20.0

I will now swear in the nominee. At his confirmation hearing for the Fed's top threatens to freeze Warsh's nomination indefinitely.

0:22.2

I will now swear in the nominee.

0:25.4

At his confirmation hearing for the Fed's top job,

0:28.6

Kevin Warsh promised to protect the central bank's independence while pledging what he called regime change.

0:31.8

The sooner that we can reform the institution with my colleagues, if confirmed,

0:37.0

the sooner we can ensure price stability.

0:39.6

And we can have a new set of leaders atop the institution with high credible ethical standards

0:45.9

to return the Fed to what it should be. The former Fed governor criticized monetary policy errors,

0:53.6

he argued, allowed inflation to soar.

0:56.2

We are still dealing with the legacy of the policy errors in 2021 and 2022.

1:04.0

Once you let inflation take hold in the economy, it's more expensive and harder to bring it down.

1:10.7

But among his biggest challenges today, addressing senators he could economy. It's more expensive and harder to bring it down.

1:10.9

But among his biggest challenges today, addressing senators' concerns he could withstand

1:15.7

presidential pressure. Democratic Senator Ruben Gallego.

1:18.9

Mr. Warsh, I think you're incredibly qualified. A lot of us are actually worried about the

1:22.9

integrity of the Federal Reserve. We're worried about what this means for the economic markets,

1:27.0

and we're worried about what this means for inflation. We're worried about what this means for the economic markets, and we're worried

1:27.7

about what this means for inflation. We're worried about your independence. I take my responsibility

...

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