Scott Bessent Urges Warsh Fed Hearings Despite GOP Block
Scott Bessent calls for Fed chair nominee Kevin Warsh’s hearings, despite GOP opposition tied to a DOJ probe into Jerome Powell.
- Scott Bessent wants Kevin Warsh hearings to move forward.
- GOP is blocking hearings due to a DOJ probe into Jerome Powell.
- Warsh remains a key contender for Fed chair amid political tension.
Bessent Presses Forward on Warsh Nomination
U.S. Treasury Secretary Scott Bessent is pushing for Senate hearings to move forward on the potential nomination of Kevin Warsh as Federal Reserve Chair, even as Republican lawmakers hold up the process. According to Bloomberg, the blockade is tied to an ongoing Department of Justice probe into current Fed Chair Jerome Powell, complicating Warsh’s path forward.
Bessent’s push signals the administration’s intent to keep momentum behind Warsh’s candidacy, viewing him as a strong contender for a monetary policy reset. The standoff, however, highlights growing friction between the Treasury, the Fed, and GOP lawmakers.
DOJ Probe Casts Shadow on Fed Politics
The political tension stems from a DOJ investigation into Jerome Powell—an unprecedented situation that’s cast uncertainty over the Fed’s leadership and its future policy direction. Some Republicans argue that no new hearings should proceed until the investigation is resolved.
Yet Bessent is making the case that the central bank’s stability is too important to delay the process. “We cannot allow politics or investigations to paralyze monetary leadership,” a source familiar with Bessent’s position told Bloomberg.
Kevin Warsh, a former Fed governor with experience from the 2008 crisis, is viewed by many as a market-savvy candidate open to more flexible monetary approaches—a potential pivot from Powell’s hawkish stance.
Warsh Nomination Could Shift Fed Direction
If Warsh’s hearings do proceed and he’s eventually confirmed, his appointment could signal a dovish turn at the Fed. Known for his market-centric outlook, Warsh may favor interest rate cuts, especially if growth slows or fiscal pressures mount.
While political obstacles remain, Bessent’s continued support for Warsh indicates that the administration sees him as a strategic fit for the moment—especially with economic and market volatility on the rise.
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