The Fed nominee Kevin Warsh nomination hearing scheduled for next week is to be delayed. This is according to the New York Post.
- No new hearing date scheduled yet
- Delay due to Senate Banking Committee awaiting required paperwork
- Committee must give at least one week’s notice before holding the hearing
- Deadline to proceed as planned was missed (paperwork not submitted in time)
- Issue described as a “paperwork delay” tied to complex financial disclosures
- Complexity stems from Warsh’s high net worth
- Similar delay previously occurred with SEC Chair Paul Atkin
- Kevin Warsh married to billionaire heiress Jane Lauder (≈$1.9B net worth)
- Past disclosures showed ~1,200 financial assets, mostly tied to his wife
- Worked 15 years at Duquesne Family Office (Stanley Druckenmiller) after leaving the Fed
Sen. Thom Tillis has pledged to block any of Trump’s Fed chair nominees until the investigation into Jerome Powell is resolved, adding a key political hurdle to the process.
At the same time, a US district judge rejected the administration’s request to revisit subpoenas targeting the Fed and Powell, though US Attorney Jeanine Pirro plans to appeal. Despite these challenges, NEC Director Kevin Hassett said he remains highly confident Kevin Warsh will ultimately become Fed chair. In the meantime, Powell indicated he would serve as “chairman pro tem” if no successor is confirmed by May 15 and plans to stay on the board until the investigation concludes, with the possibility of remaining as a governor through 2028.
This article was written by Greg Michalowski at investinglive.com.
