Thune nudges Trump to "wrap up" Fed probe
Summary
Senate Majority Leader John Thune is urging President Donald Trump’s administration to finish an investigation so Kevin Warsh’s appointment as Federal Reserve chair can move forward. The confirmation is delayed by a dispute involving President Trump, Fed Chair Jerome Powell, and Senator Thom Tillis, who is waiting for a Justice Department inquiry to end before supporting Warsh.Key Facts
- Kevin Warsh has been nominated by President Trump to be the next Federal Reserve chair.
- Senate Republicans generally support Warsh but are frustrated by the delay.
- Warsh emphasized the importance of the Federal Reserve’s independence during his confirmation hearing.
- Warsh wants the Fed to focus mainly on controlling inflation and avoid expanding its role.
- Senator Thom Tillis is blocking Warsh’s confirmation until a Justice Department investigation into Powell is finished.
- President Trump has criticized Powell over interest rate decisions and renovation costs.
- Jerome Powell has said he will stay as Fed chair until the investigation ends or Warsh is confirmed.
- Powell’s current term as Fed chair expires on May 15, but he would continue temporarily if Warsh’s confirmation is delayed.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.