Warsh Faces Fed Chair Confirmation

The battle over the leadership of the Federal Reserve has intensified as Kevin Warsh prepares to testify before Congress next week.

President Trump has repeatedly threatened to fire Jerome Powell if he does not resign when his term ends on May 15, a move that legal experts say would be unprecedented.

Democrats are calling for the confirmation process to be postponed until the Trump-backed probe into Powell is completed.

Meanwhile, Treasury Secretary Scott Bessent has suggested the Fed may need to hold interest rates steady as the economic impact of the Iran war becomes clearer.