The Fed chair confirmation faces a key hurdle as a senator vows to block the process until a DOJ investigation into Jerome Powell is resolved.
US Treasury Secretary Scott Bessent is calling on the Senate Banking Committee to proceed with confirmation hearings for Federal Reserve chair nominee Kevin Warsh, despite a standoff over an ongoing probe into current Fed chair Jerome Powell.
Speaking with Fox News’ Sunday Morning Futures, Bessent referenced recent pushback from Republican Senator Thom Tillis, who said he plans to stall on the confirmation of the next Fed chair until the Department of Justice probe into Powell is resolved.
“Senator Tillis has come out and said he thinks that Kevin Warsh is an extreme candidate,” Bessent said, adding:
