Senate panel advances nomination of Kevin Warsh for Fed chair
The Senate Banking Committee has moved forward with Kevin Warsh's nomination to lead the Federal Reserve. This advancement sets the stage for a vote by the full Senate. (sources: thehill, nytimes, cnbc, theguardian, reuters)
The Senate Banking Committee voted to advance Kevin Warsh's nomination for Federal Reserve chair. This decision follows the Department of Justice's announcement regarding its investigation into Jerome Powell.
- The Senate Banking Committee voted to advance Warsh's nomination on Wednesday.
- The full Senate is expected to hold a vote on Warsh's nomination soon.
- The DOJ recently announced it was dropping its criminal probe into Jerome Powell.
Why it matters
The outcome of Warsh's nomination could impact the leadership and direction of the Federal Reserve.
↓ Why this is on ModernAction
2 bills on this issue are moving right now — and the most active one is A bill to require Presidential appointment and Senate confirmation of the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection..
S1627 · 119th Congress
A bill to require Presidential appointment and Senate confirmation of the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection.
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About this bill
What S1627 actually does
This story is about the Senate panel advancing Kevin Warsh's nomination to lead the Federal Reserve. This bill would require Presidential appointment and Senate confirmation for the Inspector General overseeing the Fed and CFPB and give that IG direct authority over Reserve Banks.
If passed, it would:
- Require Presidential nomination and Senate confirmation for the Fed/CFPB IG • Give the IG direct oversight authority over Federal Reserve Banks.
1 other bill moving on this issue
Take action on any of them individually.
This story is about the Senate Banking Committee moving forward with Kevin Warsh's nomination to lead the Federal Reserve. This bill would require a full GAO audit of the Federal Reserve Board and all regional Reserve Banks within 12 months and remove limits on audit scope.
If passed, it would
- Require a full GAO audit of the Fed Board and regional banks • Remove legal limits on what the audit would cover.