Kevin Warsh's Hearing For Fed Chair Position Reportedly Set For Next Week — Trump's Fed Nominee Discloses More Than $100M In Wealth

• Warsh also submitted financial disclosures on Tuesday as part of the process to advance his nomination for the Fed Chair position, revealing a wealth of more than $100 million.
• According to the disclosure, Warsh has two investments of over $50 million each in Juggernaut Fund LP.
• He also earned $10.2 million in consulting fees from Stanley Druckenmiller’s investment office.

Former Federal Reserve Governor Kevin Warsh’s hearing for the Fed Chair position is reportedly set for next week, according to South Carolina Senator Tim Scott.

“Next week we’ll have a hearing with Kevin Warsh being present,” Scott said during an interview with Fox Business, adding that the hearing will be held by the Senate Banking Committee.

He added that the hearing will include discussions about the U.S. economy, price stability, and inflation, as well as the independence of the Fed.

“The second step, later on, we’ll have a vote on Kevin Warsh. I believe that the DOJ will finish and wrap this up in the next several weeks, and Thom Tillis will be a yes on Kevin Warsh,” Scott added.

This comes ahead of the Federal Open Market Committee’s (FOMC) next meeting, which will be held on April 29 and 30. According to the CME FedWatch tool, there is a 99.5% probability that interest rates will remain unchanged.

Warsh Discloses Over $100M In Wealth

As part of the process to advance his nomination for the Fed Chair position, Warsh submitted financial disclosures on Tuesday, revealing a wealth of more than $100 million.

According to the disclosure, Warsh has two investments of over $50 million each in Juggernaut Fund LP. He also earned $10.2 million in consulting fees from Stanley Druckenmiller’s investment office.

Warsh’s filing also states that he will divest his investments in Juggernaut Fund LP if needed. It also notes that the underlying assets have not been disclosed due to pre-existing confidentiality agreements.

Scott Bessent Wants Fed To Hold Rates Amid Iran War, Says Report

Treasury Secretary Scott Bessent on Tuesday told Semafor that he wants the central bank to hold rates steady.

“Do I think rates should be lowered? Eventually. I think now that we have to wait and see,” Bessent said. He backed the central bank’s cautious approach to see how the war in Iran plays out, while downplaying concerns that higher oil and gas prices will be embedded in inflation expectations, according to the report.

Meanwhile, Jeremy Siegel, professor emeritus of finance at the University of Pennsylvania’s Wharton School of Business, on Tuesday warned of a risk of a Fed rate hike amid rising crude oil prices due to the war in Iran.

“There is risk that the next move in rates could be up rather than down. I am not calling for a hike as the base case, but the odds are no longer negligible,” he said.

What If Warsh Is Not Confirmed Before Expiry Of Powell’s Term?

Outgoing Fed Chair Jerome Powell stated during a press conference in March 2026 that he will continue to serve as the head of the central bank in case his nominated successor, Warsh, is not confirmed by the time Powell’s term comes to an end in May 2026.

“So if my successor is not confirmed by the end of my term as Chair, I would serve as Chair pro tem until he is confirmed. That is what the law calls for; that’s what we’ve done on several occasions,” he said.

He also said that he has no intention of leaving the Fed’s Board of Governors until the Department of Justice’s investigation is over.

Meanwhile, U.S. equities gained in Tuesday’s opening trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.5%; the Invesco QQQ Trust ETF (QQQ) rose 0.7%; and the SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.37%. Retail sentiment on Stocktwits regarding the S&P 500 ETF was in the ‘bearish’ territory.

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