Trump’s Quest for More Sway Over Fed Faces Fresh Hurdles
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The Bottom Line
President Trump's Fed chair pick faces confirmation hurdles amid a Justice Department probe into the current chair.
How This Affects You
The ongoing Justice Department investigation into Jerome H. Powell's actions affects the confirmation process for Kevin M. Warsh.
AI Summary
President Trump faces hurdles in installing his pick to lead the Federal Reserve as Jerome H. Powell’s term as chair ends on May 15. Kevin M. Warsh will make his case to the Senate Banking Committee on Tuesday, with only 24 days remaining for his confirmation process. A Justice Department criminal investigation into Mr. Powell’s handling of renovations at the Fed’s headquarters complicates Mr. Warsh's nomination. Senator Thom Tillis is refusing to advance the nomination until legal threats against Mr. Powell end, increasing the odds Mr. Powell stays on as a governor.
What's Being Done
Kevin M. Warsh will present his case to the Senate Banking Committee.
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Trump news at a glance: president renews threats against federal reserve chair, pushes his replacement
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