The U.S. president praised Warsh for his intelligence, a he even drew attention to his appearance several times, claiming that it “fits the role”.
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“But he definitely wants to cut the feet. I've been watching him for a long time“- he added.
“Inflation hawk” irrelevant?
Trump also downplayed the fact that Warsh is considered an “inflation hawk”, i.e. a supporter of higher interest rates. During the global financial crisis, as a member of the Fed's Board of Governors, he opposed reducing them, although – as economists remind us – fears of a sharp increase in inflation did not materialize at that time.
However, the president assured that the candidate's past views did not worry him. “He wants the same thing as me. But I think there were times when you really had to put your feet up“- he said.
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Dispute in the Senate
Trump also brushed off threats to block the nomination from Republican Sen. Thom Tillis. The politician announced that he would not support Warsh until the criminal investigation against the current Fed chairman Jerome Powell ends. The president reminded that Tillis will not run for re-election and his term expires in January next year.
“If he doesn't approve, we'll have to wait for someone to come along and approve it, right? That's it” – Trump commented. Meanwhile, Powell's term as president ends in May.
Trump attacks Powell
The president also suggested he supported an investigation into Powell over the costly renovation of Fed buildings. “He's either incompetent or a scam, so we'll find out” – he said. However, both Tillis and Powell himself, as well as many politicians from both parties, believe that the investigation is politically motivated and related to Trump's dissatisfaction with the pace of interest rate cuts.
