<\/p>\n
United States Treasury Secretary Scott Bessent wants the Senate Banking Committee to move ahead with the confirmation hearings for Federal Reserve chair nominee Kevin Warsh, even as a Department of Justice investigation into current Fed chair Jerome Powell remains unresolved.<\/p>\n
<\/p>\n
During a Fox News inte<\/a>r<\/a>view<\/a>, Bessent pushed back on Republican Senator Thom Tillis, who has threatened to delay the confirmation process until the Department of Justice investigation into the current Fed chair is concluded.<\/p>\n \u201cSenator Tillis has come out and said he thinks that Kevin Warsh is an extreme candidate, So I would say, why don\u2019t we get the hearings underway and see where Jeanine Pirro\u2019s investigation goes?\u201d Bessent said.<\/p>\n U.S. Attorney for the District of Columbia, Jeanine Pirro, opened a probe on Jan. 9 tied to Powell\u2019s congressional testimony, which addressed cost overruns linked to a $2.5 billion renovation of the Fed\u2019s headquarters and nearby buildings. Prosecutors are investigating whether Powell misled lawmakers about the scope and expense of the renovation project.<\/p>\n <\/p>\n Powell has denied any wrongdoing and said the investigation is being used as a political pretext following his resistance to Donald Trump\u2019s demands for faster interest rate cuts.<\/p>\n As previously reported by crypto.news, Senator Tillis has said he would block all Fed nominations until the Justice Department concludes its probe into Powell, even though he considers Warsh a \u201cqualified\u201d and \u201cstrong\u201d candidate for the position.<\/p>\n