00:00President Trump's nominee to be the next chair of the Federal Reserve was grilled by lawmakers today here on Capitol
00:06Hill.
00:07Kevin Worsh repeatedly pledged to act independently if he's confirmed as the head of the central bank
00:12and testified that the president has never asked him to commit to any particular policy decision,
00:18even though the president has said he would only appoint someone who shared his view on rate cuts.
00:23Are you going to be the president's human sock puppet?
00:27Senator, absolutely not.
00:28Are you going to be anybody's human sock puppet?
00:31No, I'm honored the president nominated me for the position,
00:34and I'll be an independent actor if confirmed as chairman of the Federal Reserve.
00:38As the White House pushes for lower interest rates,
00:41today's hearing was seen as a litmus test for Worsh to maintain credibility on inflation with investors.
00:47There will be enough Republican votes on this Senate Banking Committee to ensure that the nomination advances.
00:53But Republican Senator Tom Tillis is vowing to prevent Worsh from moving forward until an investigation into the current chair,
01:00Jerome Crowell, is resolved.
01:02We have got to end this investigation.
01:04Big DOJ didn't know about it.
01:06The president didn't know about it.
01:07Let's get rid of this investigation so I can support your confirmation.
01:11Mr. Worsh, the only thing I've found the least bit odd about you is you've never watched an episode of
01:17Seinfeld.
01:18And Tillis can make good on his threats since Republicans only hold a 13-11 majority on the committee.
01:24And today's hearing didn't seem to make a difference in easing that blockade.
01:28Tillis told me he wants to confirm Worsh but won't do so until the Department of Justice drops its probe
01:34into whether Powell misled this very Senate Banking Committee about the Fed's renovations of its headquarters here in Washington.
01:41Tillis says the investigation is bogus and Powell has denied the allegations.
01:45I'll call back you.
01:45Trans scrib остate you, Donis.
01:45Thank you, Bill Vins.
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