Kevin Warsh, President Donald Trump’s pick for chairman of the Federal Reserve, will face an onslaught of questions during his confirmation hearing on Tuesday. Here is what to expect.
Trump nominated Warsh, 56, earlier this year to replace outgoing Fed Chairman Jerome Powell, whose term is ending in mid-May. Powell is under investigation by the Justice Department, which has raised the stakes for Warsh’s confirmation hearing.
Plus, since Warsh’s nomination was announced, the United States and Iran went to war, causing energy prices to spike and sending inflation spiking nearly a full percentage point higher. Warsh will be in a tricky position on Tuesday as he navigates questions about the Fed’s independence, monetary policy, and more.
“He’s in a tough situation to navigate,” Dennis Lockhart, former president of the Federal Reserve Bank of Atlanta who worked with Warsh for several years at the Fed, told the Washington Examiner.
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