Fed chair nominee Kevin Warsh heads to Senate hearing pledging independence on interest rates

What is Warsh expected to say about Fed independence?

Warsh’s prepared testimony says the Fed’s conduct of monetary policy should remain “strictly independent,” and that interest-rate decisions should be made with analytic rigor and unclouded decision-making NYT,NYT,Guardian.

Why is this hearing getting so much attention?

The hearing is a key step in Warsh’s confirmation to lead the world’s most influential central bank, and it comes as lawmakers and investors are watching for how he would approach inflation, interest rates and the Fed’s autonomy during a period of political and economic strain TheStreet,Fox News,Investing.com.

What happens next in the confirmation process?

After the hearing, the Senate Banking Committee must vote on whether to advance Warsh’s nomination, and confirmation by the full Senate would require a simple majority Aol.