Kevin Warsh, the Federal Reserve chair nominee, is outlining a significant overhaul in the institution ahead of his expected appointment. Warsh argues that the central bank needs a fundamental reset and that its independence is largely up to the Fed. This comes amidst scrutiny from President Donald Trump, who has pushed the Fed to lower interest rates and has threatened to remove current Chair Jerome Powell. He also supports a restructuring of the Fed's balance sheet, arguing that the shift could enable lower rates for households and businesses.