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2026-02-13 20:45:22
[US Treasury Secretary: Senate Agrees to Advance Confirmation Hearings for Warsh's Nomination as Fed Chair] ⑴ US Treasury Secretary Bessant said on Friday that despite reservations from a key senator, the Senate Banking Committee has agreed to advance confirmation hearings for President Trump's nomination of Kevin Warsh to succeed him as Fed Chair. ⑵ Bessant stated, "I think holding hearings is crucial. Chairman Powell's term expires in mid-May, and anyone concerned about the integrity and independence of the Fed wants to see Kevin Warsh ensure continuity." ⑶ From a policy perspective, the advancement of the hearings signifies that procedural hurdles to Warsh's appointment as Fed Chair are being cleared. If ultimately confirmed, it will represent a significant shift in Trump's leadership of monetary policy. ⑷ The market should pay attention to Warsh's testimony during the hearings and the timeline for the Senate's final confirmation vote. The similarities and differences between his policy leanings and Powell's will directly influence the market's pricing of the Fed's future path.
