""With the assurances from the Department of Justice that the case is completely and fully settled, I am prepared to move on with the confirmation of Mr. Warsh. I think he's going to be a great Fed chair.""
""The president never asked me to commit to interest rate cuts at any particular meeting over the period of my tenure at the Fed. He didn't ask for it. He didn't demand it. He didn't require it. And nor would I have ever done so.""
The Federal Reserve is expected to maintain its benchmark interest rate as Jerome Powell prepares for his last meeting as chairman. Kevin Warsh is nominated to succeed Powell, with a Senate committee vote scheduled. Recent developments have cleared a potential roadblock to Warsh's confirmation. Warsh has expressed his commitment to the Fed's independence and suggested that interest rate cuts could be possible without increasing inflation, citing productivity gains from artificial intelligence.
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