Republican Holds Trump Pick for Fed Chair in Limbo

Watch the full Daily DeFranco Show: https://www.youtube.com/@PhilipDeFranco?sub_confirmation=1 Get More News Clips: https://www.youtube.com/channel/UCpLB7kBu9O5dbBKhaIOmqcQ?sub_confirmation=1 Right, Kevin Warsh is Trump’s choice for the chair of the Federal Reserve and today, he went before the Senate Banking Committee for his confirmation hearing. And, for a Trump nominee, this guy seems weirdly qualified for this job. Right, he’s an Ivy League graduate, and he worked in financial services at Morgan Stanley before serving as an economic policy advisor under George W Bush. From there, Bush appointed him to the Fed board of governors in 2006 - where he served until 2011. Notably before, during, and after the 2008 financial crash. But despite that impressive resume, going into this hearing, we knew his immediate confirmation was a long shot. Because Senator Thom Tillis, a key Republican on the committee, has said that he won’t confirm Warsh unless the DOJ drops the criminal investigation into the Fed and the current chairman Jerome Powell. Right, on paper, that case is about the renovations for Fed’s headquarters going over budget. But Powell has said that it’s a pressure campaign from Trump to try and get the Fed to lower interest rates - which is what a federal judge found as well, blasting it as an act of intimidation. And during the hearing, Tillis stuck to his guns. Now, Trump was asked this morning whether he would drop the investigation into Powell in order to get Warsh confirmed and it resulted in a rambling rant. Which doesn’t really give much to go on but we do know that without a vote from Tillis, the committee reportedly doesn’t have the votes to advance his confirmation to the Senate. Right, Republicans have a slim majority here and Warsh didn’t really win over any Democrats - with those on the committee lingering on a couple points. —————————— Produced by: Cory Ray, Philip DeFranco Edited by: James Girardier, Maxwell Enright, Julie Goldberg, Christian Meeks, Matthew Henry Art Department: William Crespo Writing/Research: Star Pralle, Philip DeFranco ———————————— #USA #America #Fed