Vosh testimony leak sparks controversy; analyst: for positions requiring strict information control, this is already a bad behavior

Golden Finance reports that on April 21, the U.S. Senate Banking Committee will hold Wach’s nomination confirmation hearing at 10:00 a.m. Eastern Time on Tuesday (22:00 Beijing Time on Tuesday). Forex analyst Adam Button said that since receiving the nomination, Wach has been unusually low-profile, which means that tomorrow will be the first real opportunity for the public to understand his position. The market has already become familiar with Wach before his nomination; his background sounds hawkish. His dovish leaning is that he believes productivity is about to surge, so interest rates should be lowered. That happens to align with Trump’s wishes. Senators will notice this, and he will also face questioning. Politico’s report shows that he will at least go through the motions. I don’t know whether anyone will believe what he’s going to say, but once Trump drops the investigation into Powell, his confirmation is basically a done deal. Tomorrow is the hearing, not a vote. What troubles me is that his testimony was leaked to Politico—already very bad conduct for a position that requires strict information control. There is only one question that truly matters for the FX market and interest rates: independence. Will Wach defend it, evade it, or do as he’s told? How tough will he seem? Can he make people believe he can avoid saying anything that would cause Trump to withdraw the nomination? Given all the dramatic events surrounding Iran, will this hearing be as attention-grabbing as usual?