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Warsh Backs Fed Independence
Description
Kevin Warsh told the Senate Banking Committee he will prioritize controlling inflation and preserving Fed independence as he seeks confirmation as Federal Reserve chair. He did not commit to rate cuts. March CPI rose 0.9% month over month, pushing annual inflation to 3.3%. Markets are pricing little chance of near-term cuts. Warsh warned the Fed must stay within its mandate while resisting political pressure.
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