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politics6h ago
Senate Democrats move to stall Trump’s ‘absurd’ bid to install new Fed chair
- Democrats on the Senate banking committee urged postponing Kevin Warsh’s confirmation hearing amid ongoing investigations into Powell and Lisa Cook.
- Trump has nominated Kevin Warsh to replace Jerome Powell as Fed chair, a move Democrats call absurd.
- Powell faces a criminal investigation over renovations at the Fed, affecting the leadership's credibility.
- The White House did not provide a comment on Warsh’s nomination.
- Trump publicly criticized Fed chair Powell while pushing for a leadership change at the central bank.
- Republican leaders faced internal resistance to Warsh’s nomination amid party divisions.
- Key Senate figures called for a timely wrap-up of the DoJ probe into the Fed leadership.
- Powell’s criticism of the Fed’s renovations and policy stance fuels political tensions over the chair’s future.
- Democrats argued it would be inappropriate to move Warsh forward while DoJ investigations are active.
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