President backs Fed pick Kevin Warsh, says he made 'no commitments' on interest rates
Summary
The President said his Fed nominee Kevin Warsh 'should get Democrat votes' and that he received 'no commitments' from Warsh on interest rates, but expressed hope Warsh would lower rates. Reporters pressed for specifics on monetary policy during a press gaggle.
When asked about his Federal Reserve nominee Kevin Warsh, the President said of his pick, "My choice, my Fed choice should get Democrat votes." He called Warsh a "very high quality person" and said "he should have no trouble getting through."
On interest rates, the President told reporters he had received "No commitments" from the nominee and that he "doesn't want to do that," adding, "I hope he's gonna lower." He said Warsh "is gonna have to do what he wants to do." The exchange included follow-up questions about whether the President had received any specific assurances; none were confirmed and the President reiterated the nominee's qualification and his hope for lower rates.
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