"Fed independence means everything to me, Warsh responded during his confirmation hearing, emphasizing the need for the central bank to focus on its core mission of price stability and avoid mission creep."
"Let's get rid of this investigation so I can support your confirmation, Tillis told Warsh, indicating that the resolution of the probe is crucial for moving forward with the nomination."
Kevin Warsh's nomination for Fed chairman faces delays due to an ongoing investigation involving Jerome Powell. Warsh emphasized the importance of Fed independence during his confirmation hearing, expressing skepticism about the Fed's expanding role. Senator Thom Tillis has stated he will not support Warsh's confirmation until the investigation concludes. Powell has indicated he will not resign while the probe is active. The situation creates a standoff that could extend beyond Powell's term expiration on May 15 if Warsh is not confirmed.
Read at Axios
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