SENATOR LISA BLUNT ROCHESTER OPPOSES NOMINATION OF KEVIN WARSH TO LEAD FEDERAL RESERVE BOARD

The following information was released by Delaware Senator Lisa Blunt Rochester:

Senator Lisa Blunt Rochester (D-Del.), member of the Senate Banking Committee,today voted against the nomination of Kevin Warsh to lead theBoard of Governors of the Federal Reserve System. She released the following statement:

"The Federal Reserve plays an important role. For families I represent, it's not just about promoting economic growth; it's about the Federal Reserve seeing what people are experiencing and making decisions that reflect that reality. It's about paying attention to Main Street, not just Wall Street. While American families confront increasing financial hardship, the country needs an independent Federal Reserve committed to making impartial, apolitical monetary policy decisions.

"Kevin Warsh has taken inconsistent positions on interest rates and expressed blind confidence in the AI-driven productivity gains that are still highly uncertain. During his confirmation hearings, I expressed deep concerns about the administration's blatant politicization of the Federal Reserve and several other independent agencies putting our economy at risk. The chair of the Federal Reserve Board should be willing to stand up for the Fed's independence and prioritize the experiences of working families over political pressure.

"The president values unbridled loyalty within his administration, often expecting cabinet members to put the wishes of the White House above the American people. I do not have confidence that Kevin Warsh will be any different. For these reasons, I could not support his nomination."