The hearing for Kevin Warsh's nomination to become Chair of the Federal Reserve will take place on April 16 before the U.S. Senate Banking Committee, according to a Friday report. The nomination was put forward by the President.
Reports indicate that confirming Warsh's appointment is a top priority for the administration. The official leading the nomination effort has dedicated his full attention to the confirmation process.
The President has expressed dissatisfaction with the current Fed Chair, Jerome Powell, since returning to office. Warsh was nominated in January to succeed Powell.
However, on the same day as the hearing announcement, a judge dismissed a request related to a subpoena concerning Powell. A prominent financial journalist noted that the ruling allows for an appeal to a higher court, a process that could potentially delay the confirmation of Warsh as Fed Chair.
Powell's term as Chair is set to expire next month. Powell stated in March that if Warsh's confirmation is not completed by the time his term ends in May, he will remain in the role, as stipulated by law.
