The 1 question that will dominate Kevin Warsh's Fed nomination hearing

The main thing that senators, Wall Street and the White House want out of Kevin Warsh's nomination hearing for Federal Reserve chair on Tuesday is to know whether he will bow to President Donald Trump.

Warsh was selected for the government's most important economic post by a president who has aggressively made it clear that he wants much lower interest rates. Trump's vow that he would only pick a central bank leader who would cut borrowing costs — alongside his repeated threats to fire outgoing Chair Jerome Powell — guarantees that questions about the Fed's autonomy will outweigh anything Warsh is likely to say about interest rates or the economic fallout from the war in Iran.