The Senate Banking Committee will hold a nomination hearing on April 16 for Kevin Warsh to be the next chair of the Federal Reserve, a person familiar with the matter told CNBC.
Warsh's nomination is moving ahead even as a separate criminal probe into the Fed continues, setting up a potential clash between the two parallel processes set in motion by the Trump administration.
Banking Committee memb...
This article reveals a power struggle between President Trump and the Federal Reserve, specifically Jerome Powell, over the setting of interest rates. The article suggests that Trump is attempting to pressure Powell into lowering interest rates by launching a criminal probe into his alleged lying about the cost of renovating the Fed's offices. This investigation has been criticized as an attempt to undermine the Fed's independence and its ability to set independent interest rates, which is cruci...