Federal Reserve nominee Kevin Warsh faced questions about his potential independence during a Senate confirmation hearing. Democratic senator Elizabeth Warren expressed concerns that he would become a 'sock puppet' for Donald Trump, while Republican senator John Kennedy also asked him to deny being the president's 'sock puppet', which he did.
Warsh is set to take over as chair of the Federal Reserve, a crucial role in shaping US monetary policy. His confirmation hearing comes amid growing tensions between the White House and the Fed over interest rates and economic stimulus measures.
The hearing highlighted ongoing concerns about the potential influence of politics on the Fed's decision-making process. Warsh has pledged to maintain the central bank's independence, but his nomination has sparked debate over whether he would be beholden to Trump's views.
Warsh's confirmation is seen as crucial in shaping the direction of US economic policy under the Biden administration. The Senate Banking Committee will vote on his nomination next week, with a full Senate vote expected shortly after.