Kevin Warsh set to face lawmakers in Fed chair confirmation hearing

MoneyWatch Kevin Warsh set to face lawmakers in Fed chair confirmation hearing. Here's what to expect. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham Updated on: April 20, 2026 / 5:17 PM EDT / CBS News Add CBS News on Google Kevin Warsh, President Trump's nominee to replace Jerome Powell as chair of the Federal Reserve, is set to face questions regarding his views on inflation, interest rates and other economic issues at a Senate Banking Committee hearing on Tuesday. A majority on the 24-member panel must vote in favor of Warsh's nomination to advance it to the full Senate for a vote, with approval in the chamber also requiring a simple majority.Warsh is widely expected to be confirmed to succeed Powell, whose term expires on May 15. One potential roadblock is Sen. Thom Tillis, a Republican from North Carolina who previously said he wouldn't approve the nomination until the Department of Justice concludes an investigation into Powell.In an interview with CNBC on Monday, National Economic Council Director Kevin Hassett expressed support for Warsh and said he expects the former Fed board governor to be confirmed. David Wessel, director of the Brookings Institution's Hutchins Center on Fiscal and Monetary Policy, told CBS News in an email that he expects Warsh to highlight his commitment to keeping prices stable while avoiding any explicit promises to adjust interest rates.Here are key areas senators are likely to address during Warsh's confirmation hearing, which is scheduled to start at 10 a.m. ET.Interest rate cutsWarsh was viewed as "hawkish" on inflation during his tenure as a Federal Reserve board governor from 2006 to 2011, generally prioritizing controlli...