Trump’s biggest new nominee won’t be able to escape one key question

Kevin Warsh, President Donald Trump's nominee to be the next Federal Reserve Chair, will begin his confirmation hearings this week, and according to Politico, there is one key question above all that he will be unable to avoid throughout the whole process."The main thing that senators, Wall Street and the White House want out of Kevin Warsh’s nomination hearing for Federal Reserve chair on Tuesday is to know whether he will bow to President Donald Trump," the outlet proclaims in a piece from Tuesday morning.The process to set a new Fed chair comes under a dark cloud, as Trump spent much of his first year back in the White House pressuring current Chair Jerome Powell, whom the president himself appointed, to lower interest rates, something heavily desired by his business allies. Powell rebuked that pressure, leading Trump to ramp up his efforts, threatening to fire him and seemingly pushing his Justice Department to pursue a dubious criminal investigation into his conduct.Beyond anything else that can be gleaned from Warsh's background, this context has led to widespread concern that he is being appointed to follow Trump's every command, despite the Fed chair needing to remain independent from the White House. Trump himself has explicitly stated in the past that he planned to put forward a nominee who would cut rates, no matter the economic circumstances."Warsh was selected for the government’s most important economic post by a president who has aggressively made it clear that he wants much lower interest rates," Politico explained. "Trump’s vow that he would only pick a central bank leader who would cut borrowing costs — alongside his repeated threats to fire outgoing Chair Jerome Powell — guarantees that questions about the Fed’s autonomy will outweigh anything Warsh is likely to say about interest rates or the economic fallout from the war in Iran. And the nominee will be contending with the competing goals of two audiences: convincing senators that he’s committed to protecting the central bank’s independence, without angering Trump."“Both Republicans and Democrats will probably have good, real questions for him,” Sen. Mike Rounds, a South Dakota Republican and senior member of the Senate Banking Committee, told the press. “It’ll be a lot on Fed independence.”“The key question would be: ‘If he tries to fire you, are you leaving?'" one anonymous former committee staffer told Politico. "'Jay Powell stood up to this attack. Would you?’”