{"id":6138,"date":"2026-04-16T18:19:31","date_gmt":"2026-04-17T01:19:31","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=6138"},"modified":"2026-04-16T18:20:02","modified_gmt":"2026-04-17T01:20:02","slug":"senate-democrats-move-to-stall-trumps-absurd-bid-to-install-new-fed-chair","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=6138","title":{"rendered":"Senate Democrats move to stall Trump\u2019s \u2018absurd\u2019 bid to install new Fed chair"},"content":{"rendered":"\n

Democrats<\/a>\u00a0have moved to stall\u00a0Donald Trump<\/a>\u2019s effort to exert greater control over the US\u00a0Federal Reserve<\/a>, condemning the president\u2019s \u201cabsurd\u201d bid to install a new leader of the central bank while it is targeted with criminal investigations.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Democratic lawmakers on the Senate banking committee urged its Republican leadership on Thursday to postpone the planned confirmation hearing for Kevin Warsh<\/a>, the financial executive and former Fed governor Trump has nominated to replace Jerome Powell as Fed chair.<\/p>\n\n\n\n

In a\u00a0letter<\/a>\u00a0to banking committee chair Senator Tim Scott, a Republican from South Carolina, the 11 Democrats called for a hearing currently scheduled for Tuesday to be delayed until investigations into Powell and Lisa Cook, a current Fed governor, are closed.

Powell \u2013 whom the president has frequently and publicly chastised over his refusal to dramatically lower interest rates \u2013 is facing a criminal investigation into the renovations of the central bank\u2019s headquarters, which he dismissed as a \u201cpretext\u201d tied to the Fed\u2019s refusal to bow to Trump\u2019s demands.<\/p>\n\n\n\n

The\u00a0Trump administration<\/a>\u00a0also tried to fire Cook, an appointee of Joe Biden, for alleged mortgage fraud. Cook has denied wrongdoing, and the president\u2019s attempt to fire her has made its way to the US supreme court, where justices\u00a0appeared skeptical<\/a>\u00a0of the case for terminating Cook.

The Democratic senators wrote in their letter to Scott: \u201cIt would be absurd on its face to allow President Trump to handpick the next chair of the Federal Reserve<\/a> as his Department of Justice actively pursues criminal investigations of not one, but two sitting members of the Federal Reserve board. It would also be inappropriate to move forward with Mr Warsh\u2019s nomination as the president publicly threatens the federal judge who found the DoJ\u2019s probe to lack merit.\u201d<\/p>\n\n\n\n

Meanwhile, Trump has continued to rail against James Boasberg, the chief judge of the DC district court, who blocked the US justice department from seeking testimony from Powell over his remarks to Congress on the Fed\u2019s renovation project.<\/p>\n\n\n\n

Boasberg said in his 27-page ruling last month: \u201cA mountain of evidence suggests that the government served these subpoenas on the board to pressure its chair into voting for lower interest rates or resigning.\u201d<\/p>\n\n\n\n

In response, Trump on Truth Social called Boasberg \u201cwacky, nasty, crooked, and totally out of control\u201d.<\/p>\n\n\n\n

In a statement to the Guardian, the White House said that it was focused on working with the the Senate to \u201cswiftly confirm\u201d Warsh to lead the Fed. \u201c[His] academic credentials, private sector success, and prior experience on the Fed Board of Governors make him eminently qualified to restore confidence and competence in Fed decision-making,\u201d said Kush Desai, a spokesperson.

Elizabeth Warren, the banking committee\u2019s top Democrat, told reporters that she still had \u201cdeep concerns\u201d that Warsh, if confirmed, would be a \u201csock puppet\u201d for the president.<\/p>\n\n\n\n

Following a meeting with Warsh on Thursday, Warren also expressed concern that he appeared in the Epstein files<\/a>, although he \u201cclaims to have zero knowledge of anything related to this\u201d. Inclusion in the files does not imply wrongdoing.<\/p>\n\n\n\n

In February, a trove of documents released by the justice department related to the late sex-offender included a list<\/a> shared with Epstein titled \u201cSt. Barth\u2019s Christmas 2010\u201d, where Warsh and his wife, Jane Lauder, are named.<\/p>\n\n\n\n

Warsh\u2019s nomination also faces hurdles from within the president\u2019s own party. The outgoing GOP senator Thom Tillis, a deciding vote on the banking committee, has said repeatedly he would not support any nomination as long as there is an investigation into Powell.<\/p>\n\n\n\n

John Thune, the Republican Senate majority leader, even called on the justice to \u201cwrap up\u201d its inquiry into the Fed chair. \u201cI think it\u2019s in everybody\u2019s best interest to wrap up the investigation,\u201d he said.<\/p>\n\n\n\n

Trump, however,\u00a0went on a lengthy tangent<\/a>\u00a0during a Fox Business interview this week about the Fed\u2019s renovations, alleging without evidence that it \u201cis probably corrupt, but what it really is is incompetence\u201d. He seemed unfazed by the possibility that Tillis could block Warsh\u2019s confirmation.

Reprinted from The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Democrats\u00a0have moved to stall\u00a0Donald Trump\u2019s effort to […]<\/p>\n","protected":false},"author":5,"featured_media":6139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[4198,1324,5246],"class_list":["post-6138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-usa","tag-democrats","tag-senate","tag-stall"],"yoast_head":"\nSenate Democrats move to stall Trump\u2019s \u2018absurd\u2019 bid to install new Fed chair - abovecloud<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abovecloud.xyz\/?p=6138\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Senate Democrats move to stall Trump\u2019s \u2018absurd\u2019 bid to install new Fed chair - 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