Gate News: On April 4, the U.S. Senate Banking Committee will hold a hearing on April 16 to consider Kevin Wausch’s nomination to be Chair of the Federal Reserve. At the same time, a criminal investigation involving the Federal Reserve is still ongoing, examining whether the current Chair, Powell, made false statements to Congress about the expensive renovation of the Federal Reserve’s office building. Wausch’s nomination process is still moving forward, which could create a conflict between the two parallel tracks being pushed by the Trump administration. Banking Committee member Thom Tillis has said he will not vote to confirm Wausch before the investigation is concluded, meaning Trump cannot advance both processes at the same time. The Senate Banking Committee has not yet added the hearing to the public schedule.
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