The U.S. Senate Banking Committee is scheduled to review the nomination of Jerome Powell as Federal Reserve Chair on April 16.

MeNews · 2026-04-07T12:31:03+00:00

On April 16, the U.S. Senate Banking Committee will hold a hearing to review Kevin Wosh’s nomination to serve as Chair of the Federal Reserve. At the same time, the investigation into the current Chair, Powell, is still ongoing and may affect Wosh’s nomination process. Committee members have stated that they will not vote to confirm until the investigation is completed.

MeNews

2026-04-07 12:31:03

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ME News update, April 4 (UTC+8), a source told CNBC that the U.S. Senate Banking Committee will hold a hearing on April 16 to review Kevin Wosh’s nomination to serve as Chairman of the Federal Reserve. Another criminal investigation involving the Federal Reserve is still ongoing, and it is examining whether the sitting chair, Powell, made false statements to Congress regarding the expensive renovation of the Federal Reserve’s office building. While Wosh’s nomination process is still moving forward, this could cause conflicts between the two parallel processes being pushed by the Trump administration. Banking Committee member Thom Tillis has already said he will not vote to confirm Wosh before the investigation is completed, which means Trump cannot advance both processes at the same time; however, by continuing to move forward with the hearing, Trump is evidently still trying to achieve that goal. The Senate Banking Committee has not yet placed the hearing on the public schedule. (Source: Jin10)

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