Kevin Warsh faces Fed hearing

Kevin Warsh, the former Federal Reserve governor nominated to replace Jerome Powell, faces a critical test today as he appears before lawmakers.

The hearing comes amid an ongoing Trump administration investigation into Powell, which has prompted some Republican senators to threaten a block on the confirmation process.

Warsh must navigate demands for immediate interest rate cuts from the White House while convincing the committee of his commitment to monetary policy independence.

His extensive financial disclosures, estimated between $135 million and $226 million, are also expected to be a primary focus of questioning from Senate Democrats.