Fed chief Warsh vows to do my job if challenged by Trump
US Federal Reserve Chairman Kevin Warsh vows to "do my job" if challenged by President Trump, his most direct comment so far about how he would handle the sort of pressure his predecessor felt through much of his tenure.
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Do you work for Donald Trump? Yes or no?
If I'm permitted to say, we're an independent central bank. We're honored to be independent.
Our independence came from you. Okay, that's enough. Thank you.
What steps would you take if the president or others in the administration target you
or your fellow governors? Because he doesn't like how many of them are voting on interest rate
policy. The Supreme Court said that the Federal Reserve and the conduct of monetary policy is
independent. To the extent there were questions about it, the courts answered those questions.
So what would you do? I would continue to do my job.
Okay, good. Chair Walsh, do you agree that current monetary policy exists in an extremely polarized
environment? Outside the four walls of the Federal Reserve, there's no doubt a lot of politics.
My goal inside the central bank is for there to be no politics.
The extent there's politics there, we're going to get rid of them.