Democratic members of the U.S. Senate Banking Committee on Tuesday requested that Republican Committee Chairman Senator Tim Scott delay the nomination process for former Federal Reserve Governor Wash, who has been selected by President Trump as the next chair of the U.S. central bank.
The letter stated, "For months, President Trump and his administration have repeatedly attempted to influence the Fed through intimidation, including launching criminal investigations into Fed Governor Lisa Cook and Fed Chair Jerome Powell," referring to the Justice Department's probes into Cook's alleged falsification of mortgage applications and Powell's alleged false statements to the Senate Banking Committee regarding the renovation of the Fed's headquarters.
Cook has denied any wrongdoing and has filed a lawsuit in a case before the Supreme Court seeking to block Trump from firing her.
Powell has said that the Justice Department's investigation into him is part of a broader administration attempt to exert improper control over the monetary policy decisions of the U.S. central bank.
Committee ranking member Elizabeth Warren and all 10 of her Democratic colleagues on the committee wrote, "We ask that you delay any proceedings on Mr. Wash's nomination until after the conclusion of the sham criminal investigations involving Chair Powell and Governor Cook."
On Friday, Trump stated that he had selected Wash to succeed Powell as Fed Chair after Powell's term leading the central bank concludes in mid-May.
Comments