"Trump stated, 'Don't you think we have to find out what happened there? I have to find out.' He expressed a desire to fire Powell but hesitated due to controversy."
"Warsh is viewed as an ideal candidate among Republicans, known for advocating Fed independence and having served under Bernanke, with a more optimistic economic outlook."
"Senate Banking Committee member Thom Tillis declared, 'I will oppose the confirmation of any Federal Reserve nominee, including for the position of Chairman, until the DOJ's inquiry into Chairman Powell is fully and transparently resolved.'"
Trump's investigation into Powell over Fed building renovations poses a challenge for Warsh's nomination as Fed chairman. Warsh is favored among Republicans for his advocacy of Fed independence and positive economic outlook. However, Senate Banking Committee member Thom Tillis has stated he will block Warsh's confirmation until the inquiry into Powell is resolved. The committee has a slim Republican majority, which could impact Warsh's chances.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]