Trump nominates Warsh to head Federal Reserve; Senate hearing on the 21st

WASHINGTON (CNA) - April 15, 2026 (Comprehensive Foreign News) - US President Donald Trump's nominee for the new Federal Reserve (Fed) Chair, Kevin Warsh, is expected to attend a Senate confirmation hearing on the 21st of this month. According to AFP, the Senate Banking Committee announced the hearing date today. Trump had previously nominated Warsh to succeed current Chair Jerome Powell, whose term ends in mid-May. However, Senator Thom Tillis, a member of the Senate Banking Committee, has vowed to block all Fed personnel appointments, including Warsh's, until the Justice Department concludes its investigation into the renovation of Powell and the Fed's office building. The Republican-led Banking Committee is expected to question Warsh on his vast wealth, his past relationship with the late sex offender Jeffrey Epstein, and his views on interest rates and other economic issues during the hearing on the 21st. US Treasury Secretary Scott Bessent told reporters at a roundtable meeting today that the Trump administration wants Warsh to take over as Fed Chair "as soon as possible." When asked about Tillis's insistence on blocking the appointment process before the Justice Department investigation is concluded, Bessent responded: "We intend to let the process unfold naturally." Bessent added that he believes Tillis will ultimately be "a reasonable person." When asked if negotiations were underway to withdraw the Justice Department's investigation into the Fed, Bessent said he could not influence the Justice Department, but emphasized: "I am confident that Warsh will ultimately become the Fed Chair." (Compiled by Tsai Chia-min) 1150415 Stand with the central message, your every sponsorship is the power to protect news freedom. Download the CNA "One News" APP for real-time updates. This website's text, images, and videos may not be reproduced, broadcast, transmitted, or used without authorization.