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Top Democrat calls newly confirmed Fed chair Kevin Warsh a ‘sock puppet’ for Trump – as it happened | Trump administration


Warsh is a ‘sock puppet’ for Trump, says top banking committee Democrat

Elizabeth Warren, the ranking member on the Senate banking committee, slammed Kevin Warsh’s confirmation as chair of the Federal Reserve, repeating many of the reservations she had about the president’s pick to lead the central bank.

“Mr Warsh has proven to be a sock puppet for Trump,” she said on the Senate floor. “During his confirmation hearing, Warsh couldn’t even say that Trump lost the 2020 election. We need a Fed chair who evaluates economic data and sets monetary policy in the real world, not in Trump’s delusional alternative reality.”

Warren, a Democratic senator from Massachusetts, added that the criminal investigation into Jerome Powell, the outgoing Fed Chair, is still ongoing. “Take it from US attorney Pirro, who said that she, quote, ‘will not hesitate to restart a criminal investigation’. And she went on to promise that her office would, ‘continue to litigate the issue’,” Warren said.

This comes after Republican senator Thom Tillis threatened to block Warsh’s confirmation until the probe into Powell was dropped.

“The second that the Administration pretended to close the investigation, Republicans folded and advanced Mr Warsh’s nomination,” Warren said today.

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Key events

Closing summary

With Donald Trump recovering from jet lag in Beijing, we are concluding our live coverage of his second term in office for the day now, but our colleagues in Australia and China will resume live updates in a few hours. Here are the latest developments:

  • By a vote of 54-45, the Senate confirmed Kevin Warsh to be chair of the Federal Reserve for a four-year term. John Fetterman was the only Democrat to break with his party and vote in favor of Trump’s pick.

  • Elizabeth Warren, the ranking Democrat on the Senate banking committee, slammed Warsh’s confirmation as chair of the Federal Reserve. “Mr Warsh has proven to be a sock puppet for Trump,” she said.

  • Republican congressman Mike Lawler told reporters that Republican senator Rand Paul’s son William had drunkenly accosted him on Tuesday night at a bar in Washington on Tuesday night, and “said that he hates Jews and hates gays and doesn’t care if they die”. “I think that’s fucking disgusting,” Lawler added.

  • For the seventh time, the Senate failed to advance a war powers resolution that would curb military action in Iran. However, the vote, 49-50, was the closest one yet, with more Republican lawmakers voting in favor of the resolution. For the first time, Lisa Murkowski of Alaska joined her colleagues, Susan Collins and Rand Paul, in voting yes. John Fetterman was again the only Democrat to vote no.

  • The White House celebrated Donald Trump’s arrival in Beijing with a video that showed his son, Eric, and daughter-in-law, Lara, were front and center of his entourage, despite years of complaints from Republicans about Joe Biden bringing his son Hunter to China on Air Force Two to strike business deals.

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