President Trump’s pick to chair the Federal Reserve publicly made his case to be confirmed Tuesday.
"This is a time of great consequence for the nation’s economy," said Kevin Warsh. "I believe a reform-oriented federal reserve can make a real difference to the American people."
Warsh faced members of the Senate’s banking committee, who will vote on his nomination ahead of a full Senate vote.
Warsh was pressed by Democrats on his finances, his relationship with the president and his view on the historical independence of the central bank.
“Let me be clear: monetary policy Independence is essential. Monetary policymakers must act in the nation’s interest," Warsh said in his opening remarks.
But Democrats worry that Warsh would feel pressure to act on behalf of President Trump.
The president reiterated his push for lower interest rates hours before Tuesday’s hearing.
CNBC's Becky Quick: Will you be disappointed if your new Fed chair, if he gets approved, doesn't cut rates right away?
President Donald Trump: I would.
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Despite insisting on independence, Warsh could still face a challenging nomination process.
Sen. Thom Tillis (R-NC) says he'll block any confirmation while a Justice Department inquiry into current Fed Chair Jerome Powell is ongoing.
"If we want to get Mr. Warsh confirmed we have to drop the investigation and move on," Tillis said.
If Warsh is eventually confirmed, his action as Fed chair could be felt by Americans down the road.
The Fed chair, as leader of the Fed, brings the Fed to make choices about interest rates," said Sarah Binder, professor of political science at George Washington University. "Those decisions affect everybody in the United States, and that's why who leads the Fed is so important."
