Federal Reserve spokesperson: Wash's hearing denies promising rate cuts to Trump, angrily criticizes Fed for losing its way

Golden Finance reports, “Federal Reserve mouthpiece” Nick Timiraos analyzed the hearing content of Kevin Walsh, the Federal Reserve chair nominee chosen by Trump, noting that Warren went all out during the confirmation hearing, refused to answer whether Trump lost the election, and was angrily rebuked by Warren as a “puppet”; he then fired back at the Federal Reserve, saying it had “lost direction and is getting involved in politics”; and he also repeatedly denied that he had promised the president low interest rates. Walsh’s argument is that a Federal Reserve chair who isn’t even willing to state a simple fact that might upset the president who nominated him will not stand up to confront that president at a critical moment—what is needed now is “systemic changes in policy-making institutions,” including a new inflation framework, new tools, and new ways of communicating information.
In addition, Walsh repeatedly denied to senators from both parties that Trump had ever sought any commitment regarding interest rates; he said, “The president never asked me to commit to any specific interest rate decision, period. If he had asked me, I absolutely would not have agreed, but he never did.”