Democrats Make Final Push to Delay Confirmation Hearing of Trump’s Fed Pick
The New York Times • • business
Key Points:
- All 11 Senate Banking Committee Democrats requested a delay in the confirmation hearing for President Trump's Federal Reserve nominee, Kevin M. Warsh, citing ongoing criminal investigations into Fed Chair Jerome H. Powell and Governor Lisa D. Cook.
- The Democrats urged that Warsh's nomination be postponed until the investigations conclude and called for public hearings into Trump's alleged involvement in these inquiries.
- They accused the Trump administration of attempting to exert control over the Federal Reserve, describing it as inappropriate to proceed with Warsh's confirmation under current circumstances.
- The administration is engaged in legal disputes with the Fed, including Trump's attempt to remove Governor Cook over unproven mortgage fraud allegations, a case now before the Supreme Court.
- The Supreme Court has expressed concerns about the potential impact of Cook's removal on the Federal Reserve's independence during recent oral arguments.
