Summary
- U.S. President Donald Trump said he nominated former Fed governor Kevin Warsh as the next Fed chair.
- Trump said Kevin Warsh is someone who could move to cut rates even without pressure from the White House.
- It said the remarks, made amid controversy over the Fed’s independence, signaled the possibility of a shift in the monetary policy stance.
As U.S. President Donald Trump nominated former Federal Reserve governor Kevin Warsh as the next chair of the Federal Reserve (Fed), he said, "Kevin Warsh would cut rates even without pressure from the White House."
According to Walter Bloomberg, a breaking-news account, on the 30th (local time), President Trump stressed that Warsh is someone who can move to lower rates in setting monetary policy regardless of political pressure.
Kevin Warsh previously served as a Fed governor and has recently been mentioned as a candidate for the next Fed chair. The remarks came amid an ongoing debate over the Fed’s independence and are interpreted as Trump signaling the possibility of a shift in the monetary policy stance.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
