Kevin Warsh Fed nomination hearing delayed
CNBC • • business
Key Points:
- The nomination hearing for Federal Reserve chair candidate Kevin Warsh, initially scheduled for April 16, has been delayed due to incomplete paperwork, including financial disclosures, which the Senate Banking Committee has yet to receive.
- Warsh's financial disclosures are complex, partly because his wife, Estée Lauder heir Jane Lauder, holds nearly 1,200 assets, complicating the committee's review process.
- President Trump nominated Warsh in January to succeed Jerome Powell, whose term expires May 15, and the administration remains confident Warsh will be confirmed in time.
- However, Senator Thom Tillis is blocking all Fed nominations until a Department of Justice criminal probe into Powell is dropped, creating uncertainty around Warsh's confirmation despite the administration's optimism.
- U.S. Attorney Jeanine Pirro has indicated the DOJ will continue the investigation into Powell, further complicating Warsh's path to confirmation beyond the hearing.
