Trump’s choice for Fed chair finds himself in a historic deadlock

Kevin Warsh’s Fed Chair Nomination Hits Major Obstacles

Kevin Warsh’s journey toward becoming the next leader of the Federal Reserve encountered both progress and setbacks this week. While the Senate Banking Committee scheduled his confirmation hearing, prosecutors from U.S. Attorney Jeanine Pirro’s office moved to intensify an ongoing investigation that could hinder his nomination.

Adding to the complications, President Trump appeared on Fox Business Wednesday morning to vigorously support the inquiry into current Chair Jerome Powell, which centers on the refurbishment of the Fed’s headquarters. Warsh’s confirmation process now faces significant opposition, creating an unusual impasse.