Kevin Warsh has clashed with Democratic senators during a fiery confirmation hearing to decide whether he should be installed as Federal Reserve chairman.
From suggestions that he would be President Donald Trump's sock puppet to questions over his links to paedophile financier Jeffrey Epstein, here are the key takeaways from Tuesday's showdown in the Senate.
Warsh denies being Trump's 'sock puppet'
Senator Elizabeth Warren, the ranking Democrat on the banking committee overseeing his confirmation, said Warsh would be little more than Trump's sock puppet as Fed chairman. Trump has suggested that if confirmed, Warsh would conform to his agenda and lower interest rates, which the president argues are needed to boost the US economy.
Warren warned that having a sock puppet in charge of the Fed would allow Trump to access its powers for personal gain. Warsh, however, emphatically denied such claims, asserting that the Fed's independence is essential.
Warsh questioned over Epstein ties
Warren also raised concerns about Warsh's connections to Jeffrey Epstein, referring to his undisclosed financial holdings. She questioned whether his fund was involved with any entities linked to Trump or Epstein. Warsh said he would divest his holdings if confirmed, but did not directly answer her query.
Warsh denies deal with Trump
Warsh stated he never agreed with Trump to cut interest rates in exchange for the role, rejecting claims about pressure from the president.
Thom Tillis withholds support
Senator Thom Tillis, the lone Republican withholding support, said he wants an inquiry into outgoing Fed chairman Jerome Powell to conclude before backing Warsh.
Warsh wants Fed 'regime change'
If confirmed, Warsh plans to introduce major reforms at the Fed, including changes to how inflation is measured and policies surrounding public communication.
