Democratic senators in the U.S. Senate call for delaying the nomination of the next Federal Reserve Chair

All 11 Democratic members of the U.S. Senate Banking Committee have written to Committee Chairman Tim Scott, requesting a delay in the confirmation process for President Biden’s nominee for Federal Reserve Chair, Kevin Warsh, until criminal investigations against current Chair Powell and other Fed officials are terminated. In the letter, Democratic senators on the Banking Committee stated that the Trump administration aimed to “seize control of the Federal Reserve through criminal charges,” describing it as “dangerous and unprecedented,” and that the committee “should not participate in this farcical attempt that could undermine democracy and confidence in financial markets.” (CCTV News)