All eleven Democratic members of the U.S. Senate Committee on Banking, Housing and Urban Affairs sent a letter to Chairman Tim Scott urging him to delay nomination proceedings for President Trump’s Federal Reserve nominee, Kevin Warsh, until criminal investigations involving Federal Reserve Chair Jerome Powell and Federal Reserve Governor Lisa Cook are closed. The letter, signed by Ranking Member Elizabeth Warren and ten other Democratic senators, described the investigations as pretextual and argued they form part of a broader effort to intimidate and influence the Federal Reserve. It warned that proceeding with a chair nomination while investigations of two sitting Federal Reserve Board members continue would undermine confidence in the Fed’s independence and in financial markets.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-03
U.S. Senate Committee on Banking, Housing and Urban Affairs Democrats call for delaying Kevin Warsh nomination hearing pending closure of investigations into Fed officials
All eleven Democratic members of the U.S. Senate Committee on Banking, Housing and Urban Affairs urged Chairman Tim Scott to delay nomination proceedings for President Trump’s Federal Reserve nominee, Kevin Warsh, until investigations involving Federal Reserve Chair Jerome Powell and Governor Lisa Cook are concluded, citing concerns over the Fed's independence and market confidence.