WASHINGTON — Republicans in the Senate are planning to hold a confirmation hearing in mid-April for Kevin Warsh, President Trump’s nominee to lead the Federal Reserve, according to multiple reports.
The Senate Banking Committee is aiming for the week of April 13 to hold the hearing, although the schedule depends on the completion of required financial disclosures and other paperwork, Reuters reported, citing sources familiar with the matter.
Warsh, a former Federal Reserve governor, was nominated earlier this year to succeed current Fed Chair Jerome Powell. His nomination comes as Powell’s current term is set to expire in May.
Part of Ongoing Debate
The Associated Press noted that Warsh’s nomination has drawn support from many Republicans, who see him as more aligned with their views on monetary policy, including a preference for lower interest rates, while also facing some resistance within the Senate.
The confirmation process has unfolded amid ongoing debates in Washington over the Federal Reserve’s independence and its handling of inflation and interest rate policy, the Associated Press added.
Republicans on the Senate Banking Committee are working to move the nomination forward ahead of Powell’s term expiration, with the mid-April hearing expected to begin formal consideration of Warsh’s qualifications and policy views.
If confirmed, Warsh would take over leadership of the nation’s central bank at a time of continued economic uncertainty, including lingering inflation concerns and global market pressures, according to Reuters.
