Episode Details

Kevin Warshs Fed Chair Nomination Hearing Looms; Powells Term Ends in May

The Senate Banking Committee is set to hold a hearing on Kevin Warshs nomination to chair the Federal Reserve, potentially as early as April 13th. Warsh, a fifty-five-year-old veteran, served on the Fed board from 2006 to 2011 and is now eyeing changes to interest rate policies and balance sheet rules. However, his nomination faces pushback from Senator Thom Tillis, who is holding back on Fed picks until the Justice Department finishes probing Powell over office renovation costs. Additionally, Senator Elizabeth Warren has criticized Warsh for past failures during the 2008 crisis and his ties to Wall Street. With hearings on the horizon and Senate drama unfolding, Warshs path to the Fed helm appears challenging, but mid-April timing could expedite a decision before Powells term ends in May.

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