US Treasury Secretary Pushes For Start On Fed Chair Confirmation Hearings

US Treasury Secretary Scott Bessent urged the Senate Banking Committee to begin confirmation hearings for Federal Reserve chair nominee Kevin Warsh, despite a standoff over an ongoing probe into current Fed chair Jerome Powell. Speaking on Fox News’ Sunday Morning Futures, Bessent noted Senator Thom Tillis’ recent pushback and said, “Senator Tillis has come out and said he thinks that Kevin Warsh is a very strong candidate,” adding, “So I would say, why don’t we get the hearings underway and see where Jeanine Pirro’s investigation goes?” Although Tillis has praised Warsh, he has vowed to block the nomination until the Department of Justice probe gets “to the truth,” framing the hold as a measure to protect Fed independence.

“I’d be one of the first people to introduce Mr. Warsh if we’re behind this and support him, but not before this matter is settled,” Tillis told CNBC. Republicans hold 13 of the 24 seats on the Senate Banking Committee and could move as a bloc, but Tillis’ opposition could force Democrats to decide the outcome.

United States

scott bessent, kevin warsh, jerome powell, banking committee, thom tillis, jeanine pirro, confirmation hearings, doj probe, fed independence, republicans