TechFlow News, April 4: A source told CNBC that the U.S. Senate Banking Committee will hold a hearing on April 16 to consider Kevin Warsh’s nomination to serve as Federal Reserve Chair. Meanwhile, another criminal investigation involving the Fed remains ongoing, examining whether current Chair Jerome Powell made false statements to Congress regarding the costly renovation of the Fed’s headquarters building. Warsh’s nomination process continues to move forward, potentially creating a conflict between two parallel initiatives advanced by the Trump administration.
Banking Committee member Thom Tillis has stated he will not vote to confirm Warsh until the investigation concludes—meaning President Trump cannot advance both initiatives simultaneously. Yet by continuing to schedule the hearing, Trump is clearly still attempting to achieve this objective. The Senate Banking Committee has not yet added the hearing to its public calendar. (Jinshi)
