Schumer: Warsh Must Make Clear He Would Keep The Fed Independent From Donald Trump
Sen. Chuck Schumer reacted Friday to President Trump nominating Kevin Warsh to head the Federal Reserve:
SEN. CHUCK SCHUMER: Now, on the Fed: this morning President Trump announced that he’s chosen Kevin Warsh to serve as the next chair of the Federal Reserve. This comes as a dark cloud hangs over the Fed. Over the last year, Donald Trump has gone to lengths no president has gone to before to harass, intimidate, and coerce the Fed to serve his own political interests instead of what’s good for the United States economy. His administration has pushed bogus accusations against Jerome Powell. These attacks undermine the independence of one of the most important entities in the world economy. So I’d simply say this about Mr. Warsh: Donald Trump is trying to cannibalize the Federal Reserve to eliminate its independence, and Mr. Warsh has an obligation to ensure that does not happen. He must make clear that he would keep the Fed independent and free from Donald Trump’s bullying-or else he must not be confirmed. And if Donald Trump won’t drop his vendetta against the Fed, weaponizing the Justice Department, Republicans must not move Mr. Warsh’s nomination forward.
