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Trump's Fed Chair Pick Faces Senate Roadblock
President Trump wants Kevin Warsh as Federal Reserve chair. A criminal investigation into current Fed Chair Jerome Powell is complicating the process.
Senate Republicans plan to hold a hearing on Warsh's nomination. But Senator Thom Tillis will block Warsh's nomination.
He wants the Justice Department to drop its investigation into Powell. Senate Republicans are divided on Warsh's nomination. The investigation is creating tension within the Republican party.
Klear Note — The Federal Reserve controls US interest rates and money supply. The Fed chair is one of the most powerful economic positions in government.
Key Terms 2
- Federal Reserve chair
- Leader of the US central bank that controls money and interest rates.
- Justice Department
- US government agency that handles legal cases and investigations.