puppet

Kevin Warsh, the man nominated to lead the Federal Reserve, the world’s most important financial institution, told the US Senate Banking Committee on Tuesday that he had made no secret agreements with the White House over interest rate policy, defending his professional integrity.

ADVERTISEMENT

ADVERTISEMENT

He said he would act independently if confirmed to succeed Jerome Powell, despite continued public pressure from US President Donald Trump for lower borrowing costs.

The question of that independence was put sharply to him during the hearing, when Republican Senator John Kennedy asked whether he would be Trump’s “human sock puppet”. Warsh replied: “Absolutely not.”

His comments came amid broader concerns on Capitol Hill about the future direction of the central bank, with lawmakers divided over his past record and approach to monetary policy.

Warsh insisted that the President had never asked him to commit to any specific interest rate path and said he would not have agreed to such a request.

The hearing highlighted the significant pressure facing the Federal Reserve as it maintains its independence while addressing inflation, which remains at 3.3%.

Just hours before the session began, US President Donald Trump stated in a CNBC interview that he would be disappointed if Warsh did not immediately implement rate cuts.

This current friction suggests that the White House may struggle to secure the necessary votes to confirm Warsh before Powell’s term as Fed Chair expires on 15 May.

Democratic opposition and Republican dissent

Democratic senators were particularly vocal in their scepticism, accusing Warsh of shifting his economic stance to suit the political climate.

US Senator Elizabeth Warren labelled the nominee a “sock puppet”, suggesting his installation would facilitate an “illegal takeover” of the institution.

Critics also pointed to his historical record, alleging that he favoured higher rates during Democratic administrations but has become more dovish under Republican leadership.

US Senator Ruben Gallego cited reporting from the Wall Street Journal (WSJ), which claimed the President had previously urged Warsh to reduce borrowing costs. Warsh responded by stating that such reports were based on inaccurate sources and reiterated that the independence of the Fed is “essential” for economic stability.

Despite Trump’s backing, the nomination also faces a critical roadblock within the Republican Party.

US Senator Thom Tillis, a Republican from North Carolina, reiterated his refusal to support Warsh as long as a Department of Justice investigation into Jerome Powell continues.

The probe, led by Assistant US Attorney Jeannine Pirro, is examining whether Powell committed perjury during testimony last year regarding the budget of a Federal Reserve building renovation project.

Tillis and other Republican colleagues have expressed their support for Powell, arguing that the investigation is meritless. According to Tillis, he will not vote for a successor until the “investigation is dropped,” a stance that effectively freezes the nomination in a closely divided committee.

Federal prosecutors have reportedly continued their efforts to access Fed records as recently as last week, even after a judge previously found no evidence to support the charges.

Legal and ethical hurdles

The proceedings also delved into Warsh’s personal financial interests and the logistical challenges of a potential leadership transition.

US Senator Elizabeth Warren raised questions about the nominee’s investments in private entities, including SpaceX and Polymarket, noting that the specific size of these holdings had not been fully disclosed to the public.

Warsh defended his position by stating that the Office of Government Ethics has already approved his plan to divest all assets within 90 days of his confirmation.

Compounding the uncertainty is the unique situation involving Jerome Powell.

Unlike most departing Chairs, Powell has indicated he intends to remain on the Federal Reserve’s governing board until his separate term ends in 2028, or until the perjury investigation is concluded.

This could create an awkward power dynamic where the former Chair sits alongside his successor, a scenario not seen in Washington since the late 1940s.

While US President Donald Trump has threatened to remove Powell from the board entirely, legal experts suggest such a move would be difficult, particularly given recent US Supreme Court precedents relating to the protection of Fed governors from political dismissal.

Kevin Warsh, United States President Donald Trump’s pick to lead the Federal Reserve, has addressed concerns about his independence pending his appointment to the bank amid fears that Trump could sway his decisions on monetary policy.

On Tuesday, Warsh — who served on the central bank’s Board of Governors from 2006 to 2011 — faced waves of criticism during a confirmation hearing of the Senate Banking Committee where Democrats voiced concerns about the Fed’s independence should he be appointed to lead the organisation.

Senator Elizabeth Warren of Massachusetts, the ranking Democrat on the committee, questioned Warsh’s independence, alleging that he would be a “sock puppet” for Trump, concerns he pushed back against and addressed in his opening testimony.

“I do not believe the operational independence of monetary policy is particularly threatened when elected officials — presidents, senators, or members of the House — state their views on interest rates,” Warsh said.

“Monetary policy independence is essential. Monetary policymakers must act in the nation’s interest . . . their decisions the product of analytic rigour, meaningful deliberation, and unclouded decision-making.”

Warsh, 56, also called for “regime change” at the US central bank, including a new approach for controlling inflation and a communications overhaul that may discourage his colleagues from saying too much about the direction of monetary policy.

Warsh blamed the central bank for an inflation surge after it slashed interest rates to nearly zero in the wake of the COVID-19 pandemic, a move that continues to hurt US households.

Concerned by the implications of artificial intelligence for jobs – expected to increase productivity – and prices, he said he would move quickly to see if new data tools could provide better insight on inflation, and would also discourage policymakers from saying too much about where interest rates might be heading.

“What the Fed needs are reforms to its frameworks and reforms to its communications,” the former Fed governor said. “Too many Fed officials opine about where interest rates should be … That is quite unhelpful.”

Warsh has also long been an advocate for shrinking the Fed’s $6.7 trillion balance sheet. In the Tuesday hearing, he said any such plans would take time and must be publicly discussed well in advance.

Jai Kedia, a research fellow at the Center for Monetary and Financial Alternatives at the libertarian Cato Institute, told Al Jazeera that there were many “encouraging” signs in Warsh’s candidacy.

“Warsh is presenting himself as a regime change candidate at a time when the Fed needs serious reform,” Kedia noted. “Particularly encouraging was his understanding of the negative effects of QE and his focus on reducing the balance sheet. He also correctly criticised mission creep and acknowledged that the Fed did better when it kept its focus on the dual mandate [of keeping inflation at 2 percent and increasing employment].”

Quantitative easing or QE is an unconventional monetary policy under which a central bank lowers interest rates, among other measures, to boost the economy, a step taken by central banks in several developed countries during the pandemic.

Warsh’s private investments, at well over $100m, are also under scrutiny. Among them are two holdings in the Juggernaut Fund LP, apparently part of his work advising for the Duquesne Family Office, the private investment firm of Stanley Druckenmiller.

Warsh’s nearly 70-page financial disclosure also showed that his other holdings include investments in Elon Musk’s SpaceX and the prediction trading platform Polymarket.

“I agreed to divest virtually all of my financial assets, the large majority of which will be divested” before taking office, Warsh said without giving any details.

Warsh noted that selling his holdings comes with challenges. He said that when that process is completed, he would have “virtually no financial assets” and “we’ll be sitting in something like cash”.

Warren, however, questioned him about the divestment plan. “Do we have any way to verify that, in fact, these sales will occur if we have no idea what’s in them?” she asked.

Political hurdles

The hearing quickly turned contentious, and the pace of Warsh’s confirmation process through the Senate remained in doubt.

He would not directly say that Trump lost the 2020 election – a statement of fact that Senator Warren said was a litmus test of Warsh’s independence from the Republican president who nominated him for the top Fed job.

Yet even amidst the focus on independence, Warsh needs 13 votes to clear the 24-member Senate Banking Committee.

North Carolina Senator Thom Tillis said he would vote against Trump’s nominee and join Democrats, which would create a 12–12 split. The committee has 13 Republican members and 11 Democrats.

Tillis said he would not vote for any Trump nominee until an investigation into current Fed Governor Jerome Powell, whose term ends May 15, is either concluded or called off. Last month, federal prosecutors said they found no evidence of wrongdoing. But Jeanine Pirro, the US Attorney for the District of Columbia, has not indicated that the investigation will be dropped.

Tillis said on Tuesday that he would support Warsh’s nomination once the probe into Powell is dropped.

“Today’s confirmation hearing underscored that Warsh is aiming for independence with guardrails,” noted Selma Hepp, chief Economist of Cotality, a market analytics company. “He rejected being a political ‘sock puppet’ and argued the Fed protects its autonomy by ‘staying in its lane.’ He offered no pre-commitment on rates, while emphasising inflation discipline, a large balance sheet, and a desire for clearer Fed communication.”

Noel Dixon, senior macro strategist at State Street, said that with Warsh, the US would have a “dovish-leaning Fed”.

“When a senator asked him if he would lower rates to 1 percent – I guess Trump had indicated that he would like to have rates below 2 percent – Warsh didn’t really say no to that,” Dixon noted. “He didn’t say that it would increase prices. He kind of leaned on it and said there would be a lagged effect, and he was just very noncommittal to that. So it’s almost like – just reading between the lines – he’s giving himself space to maintain possible justification for rate cuts by the end of the year.”

Trump has continued to pressure the central bank.

On Tuesday, he said he would be “disappointed” if the Fed did not lower interest rates.

Tuesday’s remarks follow comments in December, when the US president said he would not appoint anyone to lead the central bank unless they agreed with him.

“The public needs to know whether Mr. Warsh will have the courage of his convictions or if he’s willing to compromise his independence and accommodate more Wall Street deregulation,” Graham Steele, an academic fellow at the Rock Center for Corporate Governance at Stanford University, told Al Jazeera in an email.

Warsh has praised the administration for its push for increased bank deregulation. In a November 2025 op-ed for the Wall Street Journal, Warsh claimed that Trump’s “deregulatory agenda” is “the most significant since President Ronald Reagan’s”.

In 2019, the Bob Baker Marionette Theater needed a lifeline. Forced out of its edge-of-downtown home of more than 55 years, the beloved troupe with its thousands of handcrafted puppets — a saucy black cat in heels, a fish out of water that can’t help but wiggle — ultimately found a new location in a Highland Park theater.

Signing a 10-year lease was a sigh of relief for the company, the result of a lengthy search that included more than 80 spaces and ensured its playful, fanciful shows would continue to be a multigenerational, SoCal tradition. But yearly rises in rent, as well as the looming end of the contract, remained a cause of stress for the nonprofit.

The Bob Baker Marionette Theater can exhale once again.

The saucy black cat puppet in a performance at the Bob Baker Marionette Theater.

(Chloe Rice / Bob Baker Marionette Theater)

The theater’s executive team said it has entered into an agreement to purchase its current location at the corner of York Boulevard and North Avenue 50, which had former incarnations as a movie theater and a Korean church. Once completed, the $5 million acquisition will ensure the theater has a permanent home, a place where skateboarding clowns and leek-haired onions can continue to frolic and dance for decades to come.

“This is monumental for us,” says Alex Evans, the theater’s co-executive director. “It’s been decades of us struggling to survive. Now we’re at this moment where it’s not a struggle. It’s a blossoming moment where our future is set up forever.”

Bob Baker’s Highland Park home was originally built as the York Theater in 1925, hosting movies and vaudeville performances during that era. It most recently housed the Pyong Kang First Congregational Church. Over the years it has also been a barbershop and the site of an organ sales and repair store.

The purchase comes at a celebratory time for the troupe. While its annual Bob Baker Day Festival at the Los Angeles State Historic Park had to be postponed from April 12 to the fall due to a forecast of rain — the historic and fragile puppets cannot be exposed to water — the company still took its show on the road to the Coachella Valley Music & Arts Festival. Its adults-only May fundraising event the Puppet Prom, which typically raises more than $30,000, is nearly sold out, and the theater, which also hosts film screenings and concerts (with puppets, of course), continues to pack in full audiences — partly due to its location in a walkable neighborhood with young families.

And in the coming weeks the theater will launch its first new show in 40 years, “Choo Choo Revue.”

“Now is the time,” says Evans, who notes that while they have built new puppets and tweaked existing shows, this is the first proper new production since 1981’s “Hooray LA!” “We have the staff to implement it. We have a sustainable business to be able to pull off what is going to be close to a half-million-dollar production to mount a new show.”

In going public with its intent to secure the York Boulevard theater, the company is initiating a new round of fundraising. Bob Baker over the last year has raised $4.5 million of the $5 million purchase price. It is seeking $500,000 to close the gap as well as an additional $2 million for what it describes as critical renovations, such as repairing the building’s roof and restrooms.

Some of the eccentric canines puppets.

(Chloe Rice / Bob Baker Marionette Theater)

Mary Fagot, Bob Baker’s co-executive director, says the theater has in place a $500,000 loan to ensure the deal closes. Yet Bob Baker does not want to to begin its new era with debt.

“We think it’s an achievable gap,” Fagot says, pointing to community fundraising the theater had to enact to stay afloat during the COVID-19 pandemic. During the days of the shutdown, for instance, the company was able to raise $365,000 in 365 days.

Rising rent, say the co-executive directors, was a key driving factor in the decision to approach the building’s ownership to purchase the space. This year, Bob Baker will pay close to half a million in rent, an amount, says Evans, that is double the theater’s budget when it was in its prior space near downtown L.A. That, coupled with the lease’s impending expiration in a couple of years, acted as a sort of deadline to craft a proposal that could appeal to its building owners.

“We started to have discussions in 2023 with the owners of the building, and those evolved into this becoming a real possibility,” Fagot says. “Then we started the hard work of talking to our biggest supporters about getting behind us.”

Bob Baker, founded in 1963 by its namesake puppeteer, now attracts more than 145,000 audience members per year, including about 20,000 students via school field trips. Funding for the building purchase was secured, in part, by gifts from the Perenchio Foundation, the Kohl Family Foundation, the Ahmanson Foundation, the late Wallis Annenberg, and celebrity donors such as Jack Black and Tanya Haden.

A sidewalk performance outside the Bob Baker Marionette Theater featuring ladybug puppets.

(Genaro Molina / Los Angeles Times)

“I’m proud to have played a small part in helping safeguard such a beloved institution that has enriched Los Angeles for decades,” says Brian Mikail of Capstone Equities, which rents the space to the troupe. The hope when signing the lease, says Mikail, was that Bob Baker could someday be set up to purchase the venue.

The agreement, says, Fagot, is a win-win for both sides.

“I think we were the ideal owners for this space,” Fagot says. “If it’s for any other purpose, it would need a giant transformation, and for us, it’s exactly what we need.”

“Choo Choo Revue” is set to open May 16 and will feature more than 100 brand new, handcrafted puppets. Look, for instance, for a conductor with a clock as a face, dancing luggage and a cicada jug band, among a host of other oddities. Expect, perhaps, a crescent moon in pajamas to be a new favorite. Or maybe audiences will instead fall for the singing mushrooms.

“The show invites audiences to go on a train ride, where the show is looking out of a train window and seeing flights of imagination,” Evans says. “It’s daydreams outside of a window. Windmills run around. It’s weird, fantastical abstractions of what’s possible. The hope is by the end of the show people are inspired to be more creative and to look at the world more beautifully.”

There’s also a clear hunger for the type of whimsical, family-friendly entertainment that the theater provides. Gross revenues topped $3.1 million in 2025, up from $699,211 in 2018, according to its most recent annual report. Fagot says the COVID pandemic only increased the demand for the “special brand of magic” that Bob Baker creates.

“People needed community,” she says. “They just need joy. They need inspiration and creativity and want to do it together, and that is what we do.”

Unruly salt-and-pepper hair in a long quaff, round glasses and broad smile give James Ortiz the look of a whimsical inventor, the kind that hides away in his workshop crafting extraordinary artifacts.

That description is essentially true; as a puppet designer and puppeteer, his job entails figuring out how to materialize figments of the imagination.

“I love playing characters that are so unbelievable that they have to exist in a different way,” says Ortiz on a video call from New York. “I love over-the-top characters and creatures.”

For more than 15 years, Ortiz has created puppets for theater projects in New York City, including those for “Into the Woods” on Broadway. His skill set has now made its way to the big screen with the box-office hit “Project Hail Mary,” an adaptation of Andy Weir’s 2021 sci-fi novel.

The space dramedy follows scientist Ryland Grace (played in the film by Ryan Gosling) who, against his will, is alone on a mission to save Earth with no return plan.

Ortiz, 42, plays Rocky, an arachnoid alien made of stone-like material, who befriends Grace. As the main puppeteer on set, Ortiz was in charge of moving its face or central carapace — and he also voices him.

Rocky and Grace don’t speak the same language. But when Grace figures out how to use his computer to translate Rocky’s sounds into English, the voice we hear coming from his jerry-rigged laptops is Ortiz’s.

Ryan Gosling in the movie “Project Hail Mary.”

(Jonathan Olley / Amazon MGM Studios)

“We had anywhere between three to six puppeteers on set with me. I would always be on the body, and they would always do the other limbs or legs,” Ortiz explains. “I needed to lead the thoughts and the dialogue and the feelings that Rocky was having.”

Thanks to both Gosling’s tongue-in-cheek charisma — as well as the curious and utterly sincere personality that Ortiz imbues into Rocky through his voice performance and intuitive puppeteering (with plenty of improvisation) — the movie becomes a disarming interstellar, interspecies bromance.

“I was always playing Rocky like the universe’s little brother,” Ortiz adds. “There was a little bit of a childlike thing that was being put in there.”

Over the years, Ortiz had developed a relationship with casting director Jeanne McCarthy, who often invited him to audition for acting jobs. Ortiz is a trained actor and has occasionally appeared on camera as himself, sans puppets. But every time McCarthy would reach out, he had a theater commitment. The timing finally worked when McCarthy mentioned she had an opportunity for Ortiz as a puppeteer in “Project Hail Mary.”

“I wasn’t familiar with the book, but then when I mentioned it to two of my friends, they knew everything about it,” Ortiz says. He soon met with directors Chris Miller and Phil Lord and had an immediate connection. “They are so delightfully immature that I felt like they were my cousins,” he says. “They are such artistic geniuses, but so silly and playful.”

For a chemistry read with Gosling, with the film’s producers also present, Ortiz opted for using a version of Rocky he had made himself, which looked like Thing from “The Addams Family” built off a fancy glove, instead of the larger puppet the production had available. That his hand version of Rocky could climb onto Gosling, and interact with the actor more directly, allowed for an amusing rapport to develop instantly between them.

Puppetry, Ortiz says, is intricately technical. When bringing a puppet to life, he’s concerned with the placement of the rods used to move the characters’ body parts, and in this case, he’d have to pay attention to where the camera is and where he and his fellow puppeteers have to hide. Amid all those preoccupations for his physical performance, Ortiz also had to deliver his lines and be present in the moment, reacting to Gosling with spontaneity.

Puppeteer James Ortiz plays Rocky, the adorable alien in “Project Hail Mary.”

(Jonathan Olley / Amazon MGM Studios)

“I promised Ryan that between action and cut, all of [the technical elements] were going melt away,” Ortiz recalls. “I said, ‘I’m just going to be an improvising partner with you. I’m never going to let you think that Rocky isn’t real, because I want this relationship to feel as playful and as dynamic as possible.’”

The more intricate Rocky puppet that appears on screen was later designed by Neal Scanlan, a legendary special effects artist, at the Creature Shop in London. Ortiz admits it was an adjustment to work with a puppet he didn’t design himself. Fortunately, Scanlan’s openness to involve him in the fabrication process made for a fulfilling experience.

“I had ultimately a lot of input, never on how Rocky looked, but a lot on how he was operated and what materials he was made out of,” Ortiz says. “I was able to pick what types of fiberglass we were using to cast him out of, because I knew, given the amount of improvisation that we would be doing on set, [that] I needed a puppet that could do anything.”

It’s not common for a puppeteer to voice the character they are manipulating. “It doesn’t usually happen because moviemaking is a business and you have to have names and sell it,” Ortiz says. Yet, as the post-production process advanced, and Lord and Miller started testing the film with audiences, Ortiz’s lines from set became the preferred Rocky voice.

Knowing that Rocky’s voice would come from Grace’s unsophisticated computer setup, Ortiz gathered inspirations, at times subconsciously, from a variety of robotic sources. These included Tik-Tok, a robot in 1985’s “Return to Oz,” one of his favorite movies.

“I have always valued my lifelessness,” Ortiz says in a hilariously monotone voice, quoting Tik-Tok. And there’s also a bit of the robot bartender from the futuristic world of “The Fifth Element” — “you want some more?” he says, making an impression.

Ortiz believes puppetry found him by accident. The youngest of three children, he grew up in Richardson, Texas, a suburb of Dallas, with a mother of Italian descent and a Puerto Rican-born father who met in 1970s New York.

“Interestingly enough, when I was growing up, there was a touring marionette theater of Richardson that was one of the first places that excited me towards puppets,” Ortiz recalls.

An introverted child, Ortiz grew up enjoying painting and handcrafts, as well as having an interest in engineering and how things are built. “My father was always in the garage building something,” he recalls. “We’re not talking like building a spaceship but building little simple machines.”

On multiple fronts, his dad has served as a source of inspiration. “My father was born in Puerto Rico and moved when he was about 4 or 5 to Brooklyn in the early 1950s,” Ortiz explains. “He was his mother’s translator. She didn’t speak any English at all. I have such admiration for him, because he was learning English in real time in school and helping his mother get through the day. It’s a powerful part of my narrative and something I’m really proud of.”

For Ortiz, this part of his heritage, his father and grandmother struggling to communicate with the world around them in a new city, connects with “Project Hail Mary.” He adds: “What I love is that there’s a little bit of that in Rocky, because so much of this story is about someone struggling to be understood and then ultimately being understood.”

Ryan Gosling stars as biologist-turned-schoolteacher-turned-astronaut Ryland Grace and Sandra Huller as mission leader Eva Stratt in “Project Hail Mary.”

(Jonathan Olley / Amazon MGM Studios)

In middle school, Ortiz enrolled in theater classes. Soon after, making marionettes entered the picture. “I discovered puppetry around the same time, because it’s sort of the center of that Venn diagram of crafts, fine arts, engineering and acting,” he says. For undergrad he attended Purchase College in New York to study acting in a classical program. After graduating, however, the phone wasn’t ringing with professional opportunities.

Ortiz’s first job out of school was working on Venezuelan-born theater director and filmmaker Moisés Kaufman’s 2010 production of Xavier Montsalvatge’s Spanish-language opera, “El gato con botas.” It was his self-taught talent with puppets that landed him the gig.

“I’m grateful that I’ve been able to have a pretty long career. I’ve been doing everything. There was one year on Broadway [when] I was doing all the special effects makeup; [another] I was doing set design.”

Puppetry, it turned out, moved from a supplementary expertise to Ortiz’s prime artistic strength. “I’ve worn so many different hats and what was interesting is that puppetry kept being the thing that invited all of me to work, as opposed to just a part of me,” he adds.

Since those early days, Ortiz has designed puppets for “The Woodsman,” which he also wrote, directed and starred in; “Disney’s Hercules” (for productions at Public Theater in New York and in Hamburg, Germany), and more recently for Lileana Blain-Cruz’s production of “El Niño” at the Metropolitan Opera.

Now that “Project Hail Mary” has launched the possibility of a fruitful Hollywood career, Ortiz’s only aim is to continue letting his abilities lead the way without inflexible expectations.

“I’m not a very calculated career person. I’m running towards bliss and then seeing what happens,” he says, smiling and running his hands through his imposing hair.