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Fed independence is largely up to Fed, Nick Timiraos notes

Fed independence is largely up to Fed, Nick Timiraos notes
Warsh stresses Fed responsibility on inflation

Kevin Warsh is set to address the Senate in a hearing, emphasizing that Fed independence depends on the central bank itself and that responsibility for controlling inflation rests with the Fed alone.

Nick Timiraos reports that Warsh will stress these points without offering excuses or equivocation regarding the Fed's duties.

Warsh’s remarks come as his nomination for Fed chair faces delays. Rising energy prices and legal hurdles have complicated the confirmation process, according to past reporting by Nick Timiraos. The proceedings have also drawn attention due to a Justice Department probe and resistance from Senator Tillis.

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