Trending Now - Anticipation Grows for Fed Chair Nominee Warsh's Hearing

WHO:

Bloomberg - Kevin Warsh, President Donald Trump’s nominee for Federal Reserve chair.

CNN - Jerome Powell, current Federal Reserve Chair; Thom Tillis, North Carolina Senator and senior Republican on the Senate Banking Committee; Jeanine Pirro, DC US Attorney.

WHAT:

Bloomberg - A confirmation hearing for Kevin Warsh is scheduled.

CNN - Warsh's nomination is stalled due to a refusal from Thom Tillis to vote for him unless the Justice Department drops its inquiry into Powell.

CNN - If Warsh is not confirmed by May 15, 2026, Powell will serve as chair “pro tempore.”

WHERE:

Bloomberg - The confirmation hearing will take place in Washington, D.C.

CNN - The inquiry into Powell is being led by the DC US Attorney's office.

WHEN:

Bloomberg - The confirmation hearing is set for 10 a.m. on April 21, 2026.

CNN - Trump announced Warsh's nomination on January 30, 2026.

CNN - Powell's last day as chair is May 15, 2026.

WHY:

CNN - Thom Tillis is refusing to vote for Warsh due to the ongoing inquiry into Powell's testimony regarding cost overruns related to the renovation of the Fed’s Washington, D.C. headquarters.

CNN - Trump stated he would fire Powell if he serves as Fed chair in the interim.

HOW:

CNN - Warsh's confirmation requires approval from the Senate Banking Committee followed by a final vote in the Senate.

(UPDATED April 19, 2026 15:08 UTC)

Kevin Warsh, nominated by Trump to be the new chair of the Federal Reserve, is facing a confirmation hearing scheduled for 10 a.m. April 21st in Washington, D.C. His nomination is currently stalled because North Carolina Senator Thom Tillis refuses to support him unless the Justice Department drops its inquiry into current chair Jerome Powell, who is under scrutiny for his testimony about cost overruns on the Fed's headquarters renovation. If Warsh is not confirmed by May 15th, Powell will continue to serve as chair “pro tempore,” and Trump has indicated he would fire Powell if he remains in that position during the interim.