Fed chief nominee Warsh clears key confirmation hurdle in Senate

[BumRushDaShow]

Source: msn/Reuters

22m


WASHINGTON, April 29 (Reuters) - Kevin Warsh, U.S. President Donald Trump's pick to lead the Federal Reserve, cleared a key procedural hurdle on Wednesday, opening the way for him to succeed Jerome Powell in coming weeks amid the White House's unprecedented efforts to exert control over the world's most powerful central bank.

The Senate Banking Committee voted along party lines to advance Warsh's nomination to the full Republican-controlled Senate. All 13 Republicans on the panel supported Warsh after North Carolina Senator Thom Tillis dropped his opposition following the Department of Justice's decision on Friday to end a criminal investigation into Powell that Tillis viewed as a threat to the Fed's political independence.

The panel's 11 Democrats, who say they doubt Warsh's promise to set policy without regard to the president's wishes, voted against him.

The vote occurred as Powell leads what's likely to be his last policy-setting meeting as Fed chief. The policy-setting Federal Open Market Committee is universally expected to leave its benchmark overnight interest rate unchanged in the current 3.50%-3.75% range, given still-elevated inflation and upward pressure on prices from the disruption to global oil supplies due to the Iran war.

Read more: https://www.msn.com/en-us/news/politics/fed-chief-nominee-warsh-clears-key-confirmation-hurdle-in-senate/ar-AA220JwR?ocid=BingNewsVerp

[Midnight Writer]

1. Democrats should make hay from this. The guy is an Epstein pal and business associate.

When asked if he had investments with Epstein, he refused to answer.

MAGA loves Trump, but even they hate Epstein. This looks like a political opening to me. We know the Republicans in the Senate will throw themselves on their swords for Trump.

[displacedvermoter]

2. I am guaranteeing that within hours of Warsh being

approved and/or sworn in Powell will be indicted again, ala Comey. This will be done both to continue Trump's vendetta against his enemies, as well as to embarrass Tillis, who will be another one on the long list of foes. Another weasel who is pretending to be honorable, too late in the day, and will get made to look like an idiot.

Mark my words ..

[rurallib]

5. Tillis another addition to the garbage heap of history

Someone who almost took a meaningful stand

[Miguelito Loveless]

3. As I have said in the past

Thillis' "maverick" status was performative, not material. This vote was paid for by yet another six-figure board membership in some big Wall Street company.

[Chasstev365]

4. And hear it now: "The Fed Chair lied to us about his impartiality."

You think?

[displacedvermoter]

6. And the Justice Department lied about indicting Powell.

I think so!