CRAMER QUESTIONS FEDERAL RESERVE CHAIR NOMINEE KEVIN WARSH AT BANKING HEARING ON DEBANKING, CAUTIONS AGAINST GROUPTHINK AT THE FEDERAL RESERVE

WASHINGTON, April 21 -- Sen. Kevin Cramer issued the following press release:

As Federal Reserve Chair Jerome Powell's term comes to a close, the Senate Banking, Housing, and Urban Affairs Committee held a nomination hearing for Kevin Warsh, President Trump's Federal Reserve Chair nominee.

U.S. Senator Kevin Cramer (R-ND) asked Warsh about the independence of the Federal Reserve, and if he has observed philosophical independence within the institution's deliberative process.

Cramer said he's often found it curious "people expect somebody who's appointed by an elected official and has to be confirmed by 100 other elected officials would somehow not have a philosophy. [...] I think we should not forget that it would be common for a preside...