US President Donald Trump has nominated Kevin Warsh for the post of head of the Federal Reserve System (FES), which functions as the central bank in the country.
Medianews.az reports that Warsh will appear today for the first hearing before the Senate committee.
His nomination has sparked significant interest in global financial markets.
Key questions include whether the US's interest rate policy will soften under Kevin Warsh as head of the FES and whether the FES will maintain its independence.
The current head of the FES, Jerome Powell’s term expires in May. If the Senate confirmation process goes smoothly, Kevin Warsh could begin his new duties in May-June.
Among Warsh’s priorities are reducing the FES’s balance sheet, implementing simpler monetary policy, and establishing a stricter financial structure. This could lead to an increase in loan interest rates.
At the same time, a main test will be whether he can maintain a balance between the US government’s expectations for interest rate cuts and the independent decisions of the FES.
Medianews.az
