Nomination Hearing for Fed Chair Candidate Kevin Warsh Faces Potential Delay

U.S. Treasury Secretary Scott Bessent has proposed that the nomination hearing for Kevin Warsh as the next Federal Reserve Chairman coincide with the ongoing investigation into current Chair Jerome Powell. According to NS3.AI, Senator Thom Tillis plans to postpone the nomination process until the Department of Justice concludes its inquiry into Powell, despite his support for Warsh's candidacy. Tillis stresses the importance of safeguarding the Federal Reserve's independence by ensuring complete transparency before confirming the next chairman.