U.S.-UAE swap line to test Fed independence
The United Arab Emirates recently requested a swap line from the U.S., according to Treasury Secretary Scott Bessent. These lines are usually the responsibility of the Federal Reserve.
Federal Reserve chair nominee Kevin Warsh believes the Fed's statutory independence doesn't fully extend to international policy issues, he said in in written responses to Senate Democrats' questions about the Fed's authority to establish swap lines.
Federal Reserve chair nominee Kevin Warsh believes the Fed's statutory independence doesn't fully extend to international policy issues, he said in in written responses to Senate Democrats' questions about the Fed's authority to establish swap lines.
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