Kevin Warsh

During his confirmation hearing, the 56-year-old former Fed governor, Kevin Warsh, faced questions about monetary policy, his personal finances, and his relationship with the Trump administration.

Warsh laid out the responsibility of the role in his opening statement.

In one particularly fiery moment, Senator Elizabeth Warren attempted to insinuate that Warsh's current investments are not in compliance with someone who is in this role.

Warren was later corrected by her Republican colleague, Tom Tillis, that Warsh is in fact in compliance.

Warsh gave a qualified defense of Fed independence, saying criticism from elected leaders does not and should not threaten it.

He denied that Trump ever pressured him to commit to interest rate cuts, despite reports and Trump's own comments suggesting otherwise.

Warsh also said he has no plans to fire presidents of the regional federal reserve banks.

In our meeting, you said you would be independent because you're, quote, a tough guy.

Those were your words, tough guy.

And you will be able to stand up to President Trump.

So let's try it again.

Name one aspect of President Trump's economic agenda with which you disagree.

That's not something I'm prepared to do.

To the president, to the Congress, the nation.

I owe my best judgment and my most faithful efforts in serving the mission that you and Congress assigned to the Federal Reserve, including full employment and stable prices.

Monetary policymakers must act in the nation's interest.

Their decision is the product of rigor, deliberation, and unclouded decision-making.

You made reference to Bitcoin, and I thought I heard a little bit of condescension that people are buying Bitcoin in these things.

Or it could provide market discipline, or it could tell the world that things need to be fixed.

Bitcoin does not make you nervous.