In a Fox Business interview, U.S. Senate Committee on Banking, Housing and Urban Affairs Chairman Tim Scott said he expects Kevin Warsh’s confirmation as Chair of the Federal Reserve within the first two weeks after the Senate returns in May. Scott framed Warsh’s appointment as a way to restore the Federal Reserve’s independence and refocus it on interest rates, price stability, and full employment. Scott also said the committee is nearing consensus on the CLARITY Act, with the immediate goal of securing support from all 13 Republican members to make a bipartisan markup easier. He said a markup in May is his hope, after which the bill would move to the Senate floor. In the interview, he linked the legislation to strengthening U.S. leadership in digital assets and to faster, lower-cost financial transactions for consumers.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-30
U.S. Senate Committee on Banking, Housing and Urban Affairs chairman in interview points to early May Kevin Warsh confirmation and nearing consensus on CLARITY Act
U.S. Senate Banking Committee Chairman Tim Scott said he expects Kevin Warsh to be confirmed as Federal Reserve Chair within two weeks after the Senate returns in May, framing the appointment as restoring the Fed’s independence and focus on interest rates, price stability, and full employment. Scott also said the committee is close to consensus on the CLARITY Act, seeking full Republican backing to enable a bipartisan markup, and tied the bill to bolstering U.S. leadership in digital assets and enabling faster, lower-cost consumer transactions.