Donald Trump’s Federal Reserve chair nominee Kevin Warsh faces a battle in the Senate after lawmakers threatened to hold up his confirmation until the Department of Justice halts its probes into Jay Powell and Lisa Cook.
In a letter addressed to Senate banking committee chair Tim Scott, the 11 Democrats on the influential committee demanded that he delay any nomination proceedings for Warsh “until the pretextual criminal investigations against Chair Powell and other Fed board members have been closed”.
Trump nominated Warsh to be the next chair of the Fed last Friday. The Senate banking committee will review the nomination before it is voted on by the 100-member Senate.
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