President Donald Trump’s pick to succeed Federal Reserve Chair Jerome Powell, Kevin Warsh, repeatedly dodged questions Tuesday during his confirmation hearing before the Senate Banking Committee, refusing to acknowledge the president’s election loss in 2020.
During the hearing, Sen. Elizabeth Warren (D-MA), the top Democrat on the committee, cited remarks from Trump that she said raised concerns.
“Donald Trump has made clear that he does not want an independent Fed,” Warren said. “In fact, he has said: ‘anybody that disagrees with me will never be Fed chairman,’ and he’s made clear that you are his sockpuppet.”
The Democratic senator then attempted to gauge Warsh’s “independence and courage” with a simple question.
“So independence takes courage; let’s check out your independence and courage, [and] we’ll start easy,” she said. “Mr. Warsh, did Donald Trump lose the 2020 election?”
“We try to keep politics, if I’m confirmed, out of the Federal Reserve,” Warsh said.
Warren continued to press Warsh on whether Trump lost the 2020 election, which he did by more than 7 million votes and by 74 Electoral College votes.
“I’m just asking you a factual question! I need to measure your independence and your courage,” Warren said.
“Senator, I believe that this body certified that election many years ago,” Warsh responded.
“That’s not the question I’m asking – I’m asking, did Donald Trump lose in 2020?” Warren clapped back.
Again, Warsh refused to answer Warren’s underlying question, and instead pivoted to blame the Federal Reserve under the Biden administration for being partially responsible for the pandemic-related runaway inflation, which experts have largely blamed on pandemic-related supply chain disruptions and corporate price hikes.
“I’m suggesting to you in 2020, the Fed made a huge inflation problem and you certified the election!” Warsh said. “We need to keep politics out of monetary policy.”
ELIZABETH WARREN: Did Donald Trump lose the 2020 election?
KEVIN WARSH: Uhm, we try to keep politics if I'm confirmed out of the Federal Reserve
WARREN: I'm just asking a factual question
WARSH: I believe this body certified the election
WARREN: That's not the question I'm… pic.twitter.com/AZvmIqZXhN
— Aaron Rupar (@atrupar) April 21, 2026

