Democrats on the Senate Banking Committee are once again reaching for the delay button — this time targeting President Donald Trump’s nominee for Federal Reserve chair, Kevin Warsh. On Tuesday, they asked committee chairman Tim Scott, R-S.C., to pause nomination proceedings, claiming the timing is somehow improper. Because apparently, when Trump nominates someone qualified, it’s automatically suspicious.
In a letter to Scott, Democrats argued that Warsh’s nomination comes after what they described as months of “intimidation” by the Trump administration toward the Federal Reserve. They pointed to Justice Department investigations into Fed Governor Lisa Cook and Fed Chair Jerome Powell, claiming those probes are part of an effort to influence the central bank.
Those investigations stem from allegations that Cook made misstatements on her mortgage applications and that Powell gave inaccurate information to the Senate Banking Committee about renovations to the Fed’s headquarters. Cook has denied wrongdoing and is now suing to block Trump from firing her, a case currently before the Supreme Court. Powell, for his part, says the DOJ’s inquiry into him is part of a broader attempt to control Fed policy.
Sen. Elizabeth Warren and the other 10 Democrats on the committee demanded that proceedings for Warsh be delayed until the investigations involving Powell and Cook are closed. In their words, they want no action taken until those probes are finished. Translation: slow everything down and hope something changes.
President Trump announced last Friday that he had selected Warsh to succeed Powell when Powell’s term as chair ends in mid-May. The White House wasted no time defending the pick.
White House spokesman Kush Desai said Warsh’s nomination has been “resoundingly endorsed by business and political leaders,” citing his academic credentials, private-sector success, and prior experience as a Federal Reserve governor. Desai added that Democrats should stop playing political games and focus on what matters — restoring public confidence in Federal Reserve decision-making.
The White House did not say when the nomination would be formally sent to Congress.
Meanwhile, Republican Sen. Thom Tillis said earlier this year that he would hold up any Fed nomination until the Powell investigation was resolved, after Powell revealed the DOJ probe in a rare Sunday evening video message in January.
So now the stage is set: Democrats demanding delays, Republicans pushing forward, and President Trump standing by his pick. Warsh’s qualifications are on the table, the politics are in full swing, and the American people are once again watching who wants action — and who prefers to hit the brakes. One thing is clear: with Trump making the choice and Democrats trying to stall it, this nomination is already proving it matters.
