The U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing to consider President Trump’s nomination of Kevin Warsh to serve as a Governor and Chair of the Federal Reserve System, as the central bank begins a transition to new leadership. In opening remarks, Committee Chairman Tim Scott framed the review around the Federal Reserve’s dual mandate of stable prices and maximum employment and the Committee’s oversight of an independent central bank. He argued the Fed should remain focused on its core mission and avoid issues outside its jurisdiction, citing the Federal Reserve’s engagement in climate-focused initiatives and subsequent reversal as an example of actions that can undermine confidence in independence, and pointed to Warsh’s prior service as a Federal Reserve Governor during the financial crisis as relevant experience for leading the institution.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-21
U.S. Senate Committee on Banking, Housing and Urban Affairs holds nomination hearing for Kevin Warsh as Federal Reserve Chair
The U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on President Trump’s nomination of Kevin Warsh to serve as Chair of the Federal Reserve System, as the central bank transitions to new leadership. Committee Chairman Tim Scott emphasized the Federal Reserve’s dual mandate and independence, arguing it should focus on its core mission rather than issues such as climate initiatives, and highlighted Warsh’s prior service as a Federal Reserve Governor during the financial crisis as key experience.