Trump’s Fed pick Kevin Warsh signals approach to rates — what a leadership change means for consumers

kevin warsh, donald trump's pick to replace jerome powell as fed chair, made his case at a senate hearing on tuesday. he called the interest rate tool "fairer" than balance sheet moves for fighting inflation. warsh, a former fed governor, said monetary policy independence is "essential." he faced questions from senators like elizabeth warren about whether he could resist pressure from trump, who has repeatedly criticized powell for not cutting rates. trump said on cnbc he'd be "disappointed" if warsh didn't deliver lower rates, arguing "we should have the lowest interest rate in the world." the nomination faces hurdles. senator thom tillis has vowed to block it over an investigation into renovations at the fed. meanwhile, the fed is widely expected to hold rates steady at its meeting next week, with analysts noting serious concerns about inflation among committee members.