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Fed Chair Nominee Warsh Begins Prepared Testimony at Senate Hearing

At his Senate confirmation hearing, Kevin Warsh said he made no White House commitments on interest rates and would act independently while discussing broader Fed reforms.

Fact Check
The claim has strong support on all three substantive points. The Yahoo Finance X post directly supports the divestment statement, saying Warsh would disclose and divest $100 million in assets if confirmed. The AOL result cited in search snippets supports that Warsh's prepared remarks said monetary policy should be conducted independently, and also that he described low inflation as the Fed's 'plot armor,' which is effectively the same idea as the claim's 'armor.' BlockBeats reports independently match these points and additionally state that he began his prepared testimony at the Senate hearing. Confidence is medium rather than high because the most authoritative direct source in this run is a media social post and search-result snippets rather than the hearing transcript or official prepared testimony.
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Summary

At a U.S. Senate hearing on April 21, Fed chair nominee Kevin Warsh said he made no commitments to the White House on interest rates and would act independently if confirmed. The statement reinforced his earlier testimony that he would preserve Federal Reserve independence and would not pledge rate cuts to Donald Trump. Warsh also argued that the Federal Reserve needs sweeping policy reform after COVID-era inflation mistakes, including changes to policy execution, tools, communication, forward guidance, forecasts, and the dot plot. He said living costs are an urgent concern, supported reducing the Federal Reserve’s $6.7 trillion balance sheet, favored integrating crypto assets into the financial system, opposed a U.S. central bank digital currency, and agreed to divest nearly all of his financial assets under an ethics office agreement.

Terms & Concepts
  • crypto assets: Digital assets that use blockchain or similar technology, including cryptocurrencies and related tokens used for payments, investment, or other financial applications.
  • CBDC: A central bank digital currency, or a digital form of sovereign money issued and backed by a country’s central bank.
  • Federal Reserve: The central bank of the United States, responsible for monetary policy, interest rates, and financial stability.