Watch: Reed asks Kevin Warsh whether he would cave to Trump's demands to lower interest rates
Summary
Senator Jack Reed asked Kevin Warsh if he would give in to President Donald Trump’s requests to lower interest rates if confirmed as Federal Reserve chair. Warsh appeared at a Senate hearing to discuss replacing Jerome Powell as the Fed chair.Key Facts
- Senator Jack Reed is from Rhode Island and is a Democrat.
- Kevin Warsh is a nominee for Federal Reserve chair.
- Jerome Powell is the current Federal Reserve chair.
- The Federal Reserve sets interest rates that affect the economy.
- President Trump has asked for lower interest rates.
- The Senate holds confirmation hearings for the Fed chair position.
- The hearing discussed whether Warsh would comply with political pressure on interest rates.
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