Warsh Faces First Test as Trump's 'Sock Puppet' Amid Cook Ouster Threat

US Federal Reserve Chair Kevin Warsh may be facing his first test as the 'sock puppet' of President Donald Trump, following allegations against Fed Governor Lisa Cook.

Last week, the president informed Cook that he is considering ousting her for a second time due to unproven allegations of mortgage fraud. Cook has been given 21 days to respond to the allegations.

Fed historian Peter Conti-Brown, a Wharton professor, believes that Warsh's actions will determine his legacy as Fed Chair: 'If Warsh stands idly by while the President runs roughshod over the Board of Governors, he will be deemed the worst Fed Chair in its history.'