Why incoming Federal Reserve chair Kevin Warsh could be the guy to actually preserve its independence (opens in new tab)

Kevin Warsh is now likely to secure Senate approval as the next Federal Reserve chair—and become arguably the most powerful central banker in the world. But when Warsh appeared before the Senate Banking Committee for his confirmation hearing in April, one punchy question underscored the dilemma that Warsh, lawmakers and the Fed all face: “Are you going to be the president’s human sock puppet?” asked Republican Senator John Kennedy of Louisiana. On one level, the question reflects President Do...