Core Viewpoint - The independence of the Federal Reserve is deemed "crucial" by Kevin Warsh, a candidate for the next Federal Reserve Chair [1] Summary by Relevant Sections - Warsh emphasizes the importance of independent operation in monetary policy execution, indicating that historical evidence supports this view [1] - Despite advocating for the independence of the Federal Reserve, Warsh notes that this does not imply complete independence in all matters [1] - Warsh, who served as a Federal Reserve Governor from 2006 to 2011, consistently supported hawkish interest rate policies aimed at addressing inflation risks; however, he now advocates for interest rate cuts, aligning with President Trump's stance [1] - President Trump is considering nominations for Warsh's potential successor after Chairman Powell's term ends in May of next year [1]