Trump nominates Warsh to head Federal Reserve; Senate hearing on the 21st
US President Donald Trump has nominated Kevin Warsh as the new Federal Reserve Chair. The Senate Banking Committee is scheduled to hold a confirmation hearing on the 21st. Senator Thom Tillis has vowed to block appointments until a Justice Department investigation concludes.
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- 📰 Published: April 15, 2026 at 09:54
- 🔍 Collected: April 15, 2026 at 10:01 (7 min after Published)
- 🤖 AI Analyzed: April 15, 2026 at 20:01 (10h 0m after Collected)
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
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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.