PANews reported on April 21 that Federal Reserve Chair nominee Warsh stated: "The supply side of the economy is undergoing dramatic changes. These changes make Fed decisions difficult. I don't trust forward guidance. The Fed will have to dig deeper at its upcoming meeting. The balance sheet and interest rate policy should work in tandem. The effects of monetary policy have long and uncertain lags. (When asked if he would become Trump's puppet) Absolutely not. I will act independently as Fed Chair. Credibility is crucial to me, to the Fed, and to the successful implementation of policy." When asked if he agreed to interest rate cuts, Warsh stated that Trump has never asked him to pre-determine interest rates, and he would not agree to do so.