Warsh’s take on Fed independence is met with confusion and some concern
Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, has described the Fed’s independence as being at its peak in certain areas, but much lower elsewhere.
Several former Fed officials told CNBC that Warsh’s view isn’t entirely clear, but taken to extremes it could mean the Fed would lose control of vital tools such as its balance sheet.
CNBC’s Steve Liesman explains.
