Warsh's hearing was high-profile: he denied promising Trump rate cuts, criticized the Fed for being lost, and was called a "puppet."

Warsh, Trump's handpicked nominee for Federal Reserve Chair, launched a fierce attack during his confirmation hearing: he refused to answer whether Trump had lost the election, prompting Warren to accuse him of being a "puppet"; he countered by criticizing the Fed for being "out of its mind and playing politics"; and he repeatedly denied making any promises to the president regarding low interest rates. Nick Timiraos, often referred to as the "Fed's mouthpiece," wrote that Massachusetts Democratic Senator Elizabeth Warren, in her opening statement, simultaneously labeled Warsh a "puppet" and opportunist for Trump. However, Warren argued that a Fed chair who wouldn't even dare to state simple facts that might displease the president who nominated him wouldn't stand up against that president in crucial moments. This theme permeated the entire hearing, with Democrats repeatedly returning to this point. Warsh also stated that the Fed needs "fundamental policy reforms," ​​including a new inflation framework, new tools, and new ways of communicating. While avoiding Trump's public attacks on the Fed, Warsh repeatedly denied to senators from both parties that Trump had sought any commitments regarding interest rates. "The president has never asked me to pre-determine, commit to, determine, or decide on any interest rate decisions, not in any of our discussions, and I would never agree to do so." (WSJ)