Treasury Secretary Scott Bessent urges the Senate Banking Committee to proceed with Kevin Warsh’s confirmation while the DOJ probe into Jerome Powell remains unresolved, amid political divisions over timing.
U.S. Treasury Secretary Scott Bessent has called on the Senate Banking Committee to advance confirmation hearings for Federal Reserve Chair nominee Kevin Warsh, despite an ongoing Department of Justice investigation into current Fed Chair Jerome Powell. Bessent’s stance contrasts with that of Senator Thom Tillis, who seeks to delay the process until the probe concludes. The unresolved investigation raises the possibility of heightened partisan tension and procedural gridlock within the committee tasked with reviewing and recommending candidates for key monetary policy roles.