July 1 U.S.
Federal Reserve Chairman Kevin Warsh’s stripped-down central-banking approach gets an international audience on Wednesday when he appears alongside top global peers who share his fight to lower inflation, but take a broader view on issues like climate change and have a stake in the battle over the Fed’s independence
Warsh participates in a question-and-answer session beginning at 9 a.m. EDT (1300 GMT) at the European Central Bank’s annual economic forum in Sintra, Portugal, where he will share a stage with ECB President Christine Lagarde, Bank of England Governor Andrew Bailey, and Bank of Canada Governor Tiff Macklem. All three were signatories to an unprecedented letter earlier this year in support of former Fed Chair Jerome Powell in his battle with the Trump administration over Fed independence, an issue that hit a key milestone this week when the U.S.
Supreme Court ruled Fed Governor Lisa Cook could keep her job despite President Donald Trump’s announcement last year that he had fired her. Powell has been lauded by his peers as a bulwark in that fight, considered important to maintaining the Fed as a prop to global financial stability. Warsh, so far, has been reluctant to speak directly to issues like the attempted firing of Cook or the legal pressure brought against Powell.