Washington DC - Donald Trump's choice to lead the US Federal Reserve, Kevin Warsh, stressed Tuesday that he would not be controlled by the president as he fielded questions on his assets and central bank independence during his confirmation hearing.

Warsh, a former Fed governor, was quick to emphasize his commitment to "ensuring that the conduct of monetary policy remains strictly independent."

He added that he would "absolutely not" be Trump's puppet – an accusation some critics have lobbed at him amid the president's intense pressure on the Fed to cut interest rates.

"The president never asked me to predetermine, commit, fix, decide on any interest rate decision in any of our discussions, nor would I ever agree to do so," Warsh said.

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He also took aim at the Fed for missing its inflation target since the Covid-19 pandemic, warning that inflation becomes tougher to curb once it takes hold.

The occasionally tense hearing before the Senate Banking Committee marks a key hurdle Warsh must overcome to succeed Fed Chair Jerome Powell when his term ends on May 15.

Trump, since his return to office last year, has severely criticized Powell for not slashing rates more aggressively.

The president told CNBC on Tuesday he would be disappointed if the new Fed chair did not swiftly lower rates, and again took aim at Powell over costly renovations at the bank's headquarters.

Warsh insisted that it is up to the Fed itself to stay free from political influence.

"I do not believe that independence of monetary policy is threatened when elected officials state their views on rates," he said.