The Senate Banking Committee is expected to hold a hearing on the nomination of Kevin Warsh as the new Federal Reserve chair the week of April 13. Current Fed Chair Jerome Powell's term ends May 15, but he will stay on until a successor is confirmed. Warsh, who previously served on the Board of Governors from 2006 to 2011, aims for 'regime change' in monetary policy. However, his nomination faces opposition from Senator Thom Tillis and Senator Elizabeth Warren.
Warsh's previous tenure saw him involved in the 2008 financial crisis. Warren criticized his past actions, alleging a bias toward Wall Street.