The post Democrats Push to Delay Kevin Warsh’s Fed Nomination appeared first on Coinpedia Fintech News
The nomination of Kevin Warsh as the next Chair of the US Federal Reserve is already facing serious hurdles. The group, led by Senator Elizabeth Warren are pushing back strongly, warning that the warsh nomination should not move forward while major investigations involving current Fed Jerome Powell remain unresolved.
Why Democrats Want Warsh’s Fed Nomination To Be Delayed
In a letter to the committee, the Democrats demanded that “any nomination proceedings for Mr. Warsh” be put on hold until the investigations are fully completed. They believe it would be unfair and politically risky to replace Powell while the cases are still open.
Jerome Powell is currently being investigated by the Department of Justice over possible issues tied to $2.5 billion in extra renovation costs at the Federal Reserve headquarters.
Although Powell has called the investigation “unpre
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