Kevin Warsh grilled in Fed hearing

During a fiery confirmation hearing, Kevin Warsh denied making any deals with President Trump regarding interest rate cuts.

Democratic senators, led by Elizabeth Warren, characterized the nominee as a potential 'sock puppet' for the administration's economic agenda.

Warsh argued that the Fed's current forward guidance is ineffective and that the institution must 'earn' its independence through better performance.

The proceedings were further complicated by an ongoing Justice Department investigation into current Fed Chair Jerome Powell.