Kevin Warsh faces Fed confirmation hearing

Kevin Warsh's bid to become the next chair of the Federal Reserve enters a critical phase with his confirmation hearing on Capitol Hill.

Republicans are casting him as a reformer ready to shake up the institution, while Democrats raise concerns about his susceptibility to political pressure from the White House.

The nomination is further complicated by an ongoing criminal probe into the central bank and opposition from some senators over the administration's treatment of current chair Jerome Powell.

If confirmed, Warsh would take over the world's most powerful central bank at a time of significant economic volatility driven by the Iran war.