Kevin Warsh’s nomination to the Federal Reserve encounters significant challenges

Federal Reserve Enters Quiet Period Ahead of FOMC Meeting

With the Federal Reserve now in its pre-meeting blackout ahead of the April 29 FOMC gathering, attention is shifting to Kevin Warsh’s upcoming confirmation hearing for the role of Fed Chair, scheduled for tomorrow. Warsh, who previously served as a Fed Governor from 2006 to 2011 and was once considered a policy hawk, has been selected by President Trump—who has repeatedly called for significant interest rate cuts from current Chair Jerome Powell. During the hearing, Warsh is expected to face questions about how closely his views align with those of the President. It is anticipated that he will express support for the idea that reducing interest rates is appropriate over the longer term.