Trump’s Federal Reserve chair pick to face lawmakers at key confirmation hearing – US politics live
Summary
President Donald Trump’s nominee for Federal Reserve chair, Kevin Warsh, is facing a Senate hearing where he will promise to keep the Fed independent and fight inflation. The hearing may be difficult because some senators want to delay the vote until investigations into current Fed officials finish.Key Facts
- Kevin Warsh is President Trump’s pick to lead the Federal Reserve after Jerome Powell’s term ends on May 15.
- Warsh will testify before the Senate Banking Committee and says he will ensure the Fed sets interest rates independently.
- Democrats on the committee want to delay Warsh’s confirmation until probes into Powell and Fed governor Lisa Cook are complete.
- Republican Senator Thom Tillis plans to block all Fed nominees, including Warsh, until the Justice Department finishes its investigation.
- Questions for Warsh will cover his wealth, past links to Jeffrey Epstein, and his economic views.
- Lori Chavez-DeRemer resigned as labor secretary amid political and personal controversies.
- Senate minority leader Chuck Schumer called for FBI director Kash Patel to resign after a report about his behavior; Patel denies the claims and sued the magazine.
- President Trump signed memorandums to boost coal, natural gas, and energy infrastructure using the Defense Production Act, citing national defense needs.
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