Trending Now - Trump's Fed Nominee Braces for Challenging Senate Confirmation

WHO:

ABC News - Kevin Warsh, nominee for the Federal Reserve chair, and President Trump.

ABC News - Jerome Powell, current chair of the Federal Reserve.

ABC News - Sen. Thom Tillis, Republican from North Carolina.

ABC News - Sen. Tina Smith, Democrat from Minnesota.

WHAT:

ABC News - Warsh's financial holdings are now reported to total between $135 million and $226 million, according to a recent disclosure.

ABC News - Warsh stated, “Inflation is a choice, and the Fed must take responsibility for it,” indicating his stance on inflation during the hearing.

Newser - Warsh plans to emphasize that interest rate decisions must rest on analysis, deliberation, and "unclouded decision-making" during his confirmation hearing.

ABC News - Warsh expressed support for the Federal Reserve's independence, stating that such political independence is “essential.”

Newser - Warsh indicated he would not address the ongoing investigation into Powell or Trump's criticisms in his opening statement.

Newser - Warsh stated in his prepared remarks, "Central bankers must be strong enough to listen to a diversity of views from all corners."

USA Today - Larry Fitzgerald, Arizona Cardinals legend and Hall of Fame Class of 2026 member, was spotted behind Kevin Warsh during the confirmation hearing on April 21st, 2026.

Bloomberg Markets - Senator Thom Tillis expressed support for a joint committee investigation into the oversight of renovations at the Federal Reserve, which could help move Warsh’s nomination forward.

ABC News - Warsh's financial holdings are now reported to total between $135 million and $226 million, according to a recent disclosure.

ABC News - Warsh stated, “Inflation is worsening as the Iran war has spiked gas prices,” indicating the impact of the conflict on the economy and interest rate decisions.

Newser - Warsh indicated he would not address the ongoing investigation into Powell or Trump's criticisms in his opening statement.

Newser - Warsh stated in his prepared remarks, "Central bankers must be strong enough to listen to a diversity of views from all corners."

Newser - Warsh plans to emphasize that the Federal Reserve's independence is strengthened when it avoids distractions and does not engage in fiscal and social policy.

Newser - Warsh's remarks indicate he would not automatically deliver the rate cuts that Trump desires.

ABC News - Warsh's financial holdings are now reported to total between $135 million and $226 million, according to a recent disclosure.

ABC News - Warsh stated, “Inflation is a choice, and the Fed must take responsibility for it,” indicating his stance on inflation during the hearing.

Newser - Warsh indicated he would not address the ongoing investigation into Powell or Trump's criticisms in his opening statement.

Newser - Warsh plans to emphasize that interest rate decisions must rest on analysis, deliberation, and "unclouded decision-making" during his confirmation hearing.

ABC News - Warsh's financial holdings are reported to total between $135 million and $226 million, according to a recent disclosure.

ABC News - Warsh stated, "Inflation is worsening as the Iran war has spiked gas prices," indicating the impact of the conflict on the economy and interest rate decisions.

ABC News - Warsh expressed support for the Federal Reserve's independence, stating that such political independence is “essential.”

Newser - Warsh plans to emphasize that interest rate decisions must rest on analysis, deliberation, and "unclouded decision-making" during his confirmation hearing.

Newser - Warsh stated, “Central bankers must be strong enough to listen to a diversity of views from all corners.”

ABC News - Warsh's financial holdings are now reported to total between $135 million and $226 million, according to a recent disclosure.

ABC News - Warsh stated, "Inflation is worsening as the Iran war has spiked gas prices," indicating the impact of the conflict on the economy and interest rate decisions.

ABC News - Warsh plans to emphasize that interest rate decisions must rest on analysis, deliberation, and "unclouded decision-making" during his confirmation hearing.

Newser - Warsh stated in his prepared remarks, "Central bankers must be strong enough to listen to a diversity of views from all corners."

Newser - Warsh indicated he would not address the ongoing investigation into Powell or Trump's criticisms in his opening statement.

ABC News - Kevin Warsh is appearing at a hearing before the Senate Banking Committee on April 21st, 2026.

ABC News - Warsh's financial holdings total more than $100 million.

ABC News - Trump's key interest rate is currently about 3.6%.

Newser - Warsh plans to emphasize the Federal Reserve's autonomy in setting interest rates during his confirmation hearing.

Newser - Warsh stated, “Inflation is a choice, and the Fed must take responsibility for it.”

WHERE:

ABC News - The hearing is taking place in Washington, D.C.

WHEN:

ABC News - Powell's term as chair ends on May 15th, 2026.

Newser - Warsh's confirmation hearing is on April 21st, 2026.

ABC News - Powell's separate term on the Fed's governing board lasts until January 2028.

WHY:

ABC News - The ongoing investigation into Powell and the Fed over a building renovation is causing uncertainty regarding Warsh's confirmation process, with Sen. Thom Tillis stating he would block any nominee until the legal pressures are resolved.

Bloomberg Markets - President Trump reiterated his support for the criminal probe into Powell, which is currently blocking Warsh's nomination to the Federal Reserve.

ABC News - Sen. Thom Tillis stated he would block any nominee until the legal pressures surrounding Powell are resolved.

ABC News - Sen. Tina Smith expressed concerns about the nomination process, stating, “It feels a bit like we’re going through the motions when we really have not addressed the fundamental challenges that this nomination has.”

ABC News - Sen. Thom Tillis stated he would block any nominee until the legal pressures surrounding Powell are resolved.

ABC News - The nomination is complicated by Trump's demands for interest rate cuts and ongoing investigations into Powell and the Fed.

Newser - Trump has publicly criticized Powell and other Fed officials for resisting lower rates.

HOW:

Newser - Warsh plans to address the Senate Banking Committee with prepared remarks emphasizing the importance of the Fed's independence.

Newser - Warsh plans to emphasize that the Federal Reserve's independence is strengthened when it avoids distractions and does not engage in fiscal and social policy.

ABC News - Warsh plans to address the Senate Banking Committee with prepared remarks emphasizing the importance of the Fed's independence.

Newser - Warsh's remarks indicate he would not automatically deliver the rate cuts that Trump desires.

(UPDATED April 22, 2026 03:57 UTC)

In a recent disclosure, Warsh's financial holdings are now reported to total between $135 million and $226 million, as he prepares for his confirmation hearing. During the hearing, Warsh plans to emphasize the importance of the Federal Reserve's independence and will argue that interest rate decisions should be based on careful analysis and clear decision-making. However, uncertainty looms over his confirmation due to an ongoing investigation into Powell and the Fed, with Senator Thom Tillis indicating he will block any nominee until the legal issues are resolved.

(UPDATED April 22, 2026 01:22 UTC)

Larry Fitzgerald, the Arizona Cardinals legend and Hall of Fame Class of 2026 member, was seen behind Kevin Warsh during the confirmation hearing on Tuesday. Senator Thom Tillis voiced his support for a joint committee investigation into the oversight of renovations at the Federal Reserve, which may help advance Warsh’s nomination. Meanwhile, President Trump reaffirmed his backing for the criminal probe into Powell, a situation that is currently hindering Warsh's path to the Federal Reserve.

(UPDATED April 21, 2026 21:14 UTC)

Warsh's financial holdings are now reported to total between $135 million and $226 million, according to a recent disclosure, and he noted that inflation is worsening due to the Iran war's impact on gas prices. In his prepared remarks, Warsh emphasized the importance of the Federal Reserve's independence and stated he would not automatically deliver the rate cuts that Trump desires, while also choosing not to address the ongoing investigation into Powell or Trump's criticisms. As Powell's term as chair ends May 15th, Senators Thom Tillis and Tina Smith have raised concerns about the nomination process, with Tillis indicating he would block any nominee until the legal pressures surrounding Powell are resolved.

(UPDATED April 21, 2026 19:20 UTC)

In a recent disclosure, Warsh's financial holdings are reported to total between $135 million and $226 million, and during his confirmation hearing, he stated that “inflation is a choice, and the Fed must take responsibility for it.” He also plans to emphasize that interest rate decisions should be based on analysis and "unclouded decision-making," while he will not address the ongoing investigation into Powell or Trump's criticisms in his opening statement. Meanwhile, Senator Thom Tillis has announced he will block any nominee until the legal issues surrounding Powell are resolved, and Senator Tina Smith expressed concerns about the nomination process, saying it feels like they are going through the motions without addressing fundamental challenges.

(UPDATED April 21, 2026 17:19 UTC)

In a recent disclosure, Warsh's financial holdings are reported to total between $135 million and $226 million, and he emphasized that inflation is worsening due to the Iran war, which has driven up gas prices. As he prepares for his confirmation hearing, Warsh plans to stress that interest rate decisions should be based on thorough analysis and the importance of the Federal Reserve's independence, which he believes is essential. However, uncertainty looms over his nomination process due to an ongoing investigation into Powell and the Fed, with Sen. Thom Tillis indicating he would block any nominee until the legal issues are resolved.

(UPDATED April 21, 2026 13:21 UTC)

Warsh's financial holdings are now reported to total between $135 million and $226 million, according to a recent disclosure, and he noted that inflation is worsening due to the Iran war spiking gas prices, which is impacting the economy and interest rate decisions. Senator Tina Smith expressed concerns about the nomination process, suggesting it feels like they are going through the motions without addressing the fundamental challenges involved. Warsh plans to emphasize that the Federal Reserve's independence is strengthened when it avoids distractions and refrains from engaging in fiscal and social policy.

(UPDATED April 21, 2026 11:18 UTC)

During his confirmation hearing, Warsh plans to emphasize that interest rate decisions must be based on careful analysis and "unclouded decision-making." In his prepared remarks, he stated that central bankers need to be strong enough to consider a diversity of views from all corners, but he also indicated he would not address the ongoing investigation into Powell or Trump's criticisms in his opening statement. The uncertainty surrounding his confirmation process is heightened by the ongoing investigation into Powell and the Fed, with Senator Thom Tillis announcing he will block any nominee until the legal issues are resolved.

(UPDATED April 21, 2026 05:42 UTC)

Kevin Warsh, the nominee for the Federal Reserve chair, is appearing at a confirmation hearing before the Senate Banking Committee in Washington, D.C., where he plans to emphasize the importance of the Fed's independence in setting interest rates. Warsh, whose financial holdings exceed $100 million, has stated that "inflation is a choice, and the Fed must take responsibility for it," as he navigates the complexities of Trump's demands for interest rate cuts and ongoing investigations into Jerome Powell and the Fed. Powell's term as chair ends May 15th, and while Warsh's remarks suggest he won't automatically deliver the rate cuts Trump desires, the outcome of this hearing could significantly impact the future direction of U.S. monetary policy.