U.S. Senate to Hold Confirmation Hearing for Walsh's Nomination

The U.S. Senate Banking Committee is set to conduct a confirmation hearing for Walsh's nomination on Tuesday at 10 a.m. Eastern Time (UTC+8 22:00). According to Odaily, foreign exchange analyst Adam Button noted that Walsh has maintained a low profile since his nomination, making this hearing a key opportunity to understand his stance. Walsh is known for his hawkish resume, but his dovish inclination lies in his belief that productivity is set to rise, suggesting a need for lower interest rates. This aligns with U.S. President Donald Trump's preferences, which senators are likely to scrutinize. A report from Politico suggests that Walsh's confirmation is almost assured once Trump ceases his investigation into Powell. The hearing is not a voting session, but concerns have been raised about the leak of Walsh's testimony to Politico, which is considered a significant breach for a position requiring strict information control. The primary question for the foreign exchange market and interest rates is Walsh's stance on independence. Observers are keen to see whether he will defend it, avoid it, or comply with directives. His ability to convey strength without provoking Trump to withdraw his nomination is under scrutiny, especially amid the ongoing tensions surrounding Iran. The hearing is expected to be more notable than usual due to these circumstances.