Kevin Warsh Says Fed Independence Is Essential During Confirmation Hearing
WSJ Minute Briefing
The Wall Street Journal
4.1 • 671 Ratings
🗓️ 21 April 2026
⏱️ 2 minutes
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| 0:00.0 | Hear that. It's your big McDonald's hunger calling. And that's not just any kind of hunger. It's the kind that calls for the big arch. |
| 0:07.5 | Stack with juicy beef, cheddar cheese and that big arch sauce. Oh, and don't forget those crispy onions. |
| 0:13.4 | Hungry? You are now. |
| 0:16.5 | Serve from 11 a.m., subject to availability. Price and participation may vary. |
| 0:23.7 | Here's your midday brief for Tuesday, April 21st. I'm Anthony Bansy for the Wall Street Journal. |
| 0:30.0 | During his confirmation hearing to lead the Federal Reserve, Kevin Warsh testified that Fed independence is essential. |
| 0:35.9 | He vowed to be an independent actor and said Trump hasn't made him promise interest rate cuts. |
| 0:42.3 | Earlier today, President Trump told CNBC he'd be disappointed if Warsh doesn't cut interest rates quickly. |
| 0:49.3 | U.S. retail sales jumped 1.7% in March, driven by a sharp rise in gasoline prices. It's the |
| 0:56.2 | fastest one-month rise in more than three years. The war in Iran has pushed up energy costs, |
| 1:01.5 | and AAA reports that gasoline prices are up about 28% from year ago. Excluding gasoline, |
| 1:08.2 | sales increased 0.6% month over month, with analysts seeing evidence consumers are not yet tapped out. |
| 1:14.9 | For more on the economy, the Commerce Department's releasing its first look at overall economic growth for the first three months of the year. |
| 1:21.9 | That's next week. |
| 1:23.8 | And the defense contractor RTX is raising its profit and sales forecast for the year following a surge in its defense business. |
| 1:32.0 | RTX is the company behind Collins Aerospace, Pratt & Whitney, and Raytheon. Defense contractors like RTX have come into focus as the conflict in Iran depletes the U.S. missile stockpile. |
| 1:43.9 | Government defense budgets are growing across the world. He depletes the U.S. missile stockpile. Government defense budgets |
| 1:44.9 | are growing across the world. Heads up in artificial intelligence tool helped us make this |
| 1:50.1 | episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by |
| 1:55.7 | an editor. We'll have more coverage of the day's news on WSJ's What's News podcast. You can edit to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts. |
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