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US President Donald Trump’s choice for central bank chair is set to face a confirmation hearing next Tuesday, in a nomination some have criticized as an attempt to take over the Federal Reserve.
The Senate Banking Committee released the April 21 date on Tuesday, after weeks of delays in former Fed official Kevin Warsh’s confirmation process.
The Senate Banking Committee released the April 21 date on Tuesday, after weeks of delays in former Fed official Kevin Warsh’s confirmation process.
Trump picked Warsh to succeed Jerome Powell when his term at the helm ends in May, but his confirmation in the Senate faces challenges as a key lawmaker pushes back against the president’s attempt to control the independent institution.
Republican Senator Thom Tillis — who sits on the Banking Committee — has vowed to block all Fed nominees, including Warsh, until a Justice Department probe into Powell and the Fed over renovations at the bank is resolved.
Elizabeth Warren, the top Democrat on the committee, said in a statement Tuesday: “There should be no hearing or vote in the Senate on Kevin Warsh’s nomination while the President continues his attempt to take over the Fed.”
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