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Federal Reserve Chairman elect Walsh attends congressional n
Washington, April 21 (Xinhua) -- Kevin Walsh, the incoming chairman and former director of the Federal Reserve, attended the nomination hearing of the Senate Banking, Housing, and Urban Affairs Committee on the 21st local time.
Walsh was born in 1970 and served as a member of the Federal Reserve Board from 2006 to 2011. He is currently a visiting scholar at Stanford University. On January 30th, US President Trump nominated Walsh as the Chairman of the Federal Reserve.
At the nomination hearing that day, Walsh emphasized that Trump did not request a commitment from him to take a "specific decision" on interest rates. Walsh also said that even if Trump had a request, he would not agree, "If I become the chairman of the Federal Reserve, I will maintain my independence.
Walsh stated that the independence of the Federal Reserve is "crucial" and that the views of the President, Senators, and Members of the House on interest rates should not affect the Federal Reserve.
Walsh also said that ensuring price stability is the responsibility of the Federal Reserve, and combating inflation will be one of his most important tasks.
During a media interview that day, Trump stated that he would be disappointed if Walsh did not lower interest rates after taking office.
Regarding current Federal Reserve Chairman Powell, Trump has repeatedly criticized his slow action in cutting interest rates and threatened to remove him from his position as Federal Reserve Chairman.
Powell's term as Federal Reserve Chairman will end in May 2026, but his term as a Federal Reserve Board member will continue until the end of January 2028.
In January of this year, the US Department of Justice issued a subpoena to Powell for a criminal investigation into issues related to the renovation of the Federal Reserve headquarters building.
Republican Senator Tom Tillis said that he will oppose approving any Fed related nominations, including Walsh, until issues such as Powell's investigation are resolved. (End)
(Editor in charge: Zhu Xiaohang)
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