Kevin Warsh Says Fed Need Not Worry About Political Factors After Supreme Court Ruling

Fed Chair Kevin Warsh said the Federal Reserve would continue to operate independently and follow its statutory duties after the Supreme Court blocked U.S. President Donald Trump from dismissing Fed Governor Lisa Cook. According to Jin10, Warsh said the Fed had operated independently before the court’s decision and would keep doing so afterward. He said he trusted federal judges appointed under Article III of the U.S. Constitution and expressed confidence in the rule of law. Warsh said the Fed would comply with the Supreme Court’s ruling, adding that, from an operational standpoint, the decision reaffirmed the central bank’s position. He said the Fed was working to carry out its responsibilities fairly, comparing its approach to an umpire calling balls and strikes. He added that the Fed took its reform goals seriously and would deliver on what Congress had assigned it, including achieving price stability within the framework of its dual mandate. Warsh said that if the Fed met that objective, it would not need to worry about political interference or judicial intervention and could remain focused on its tasks.