By Matt Grossman

Opening remarks are under way at Kevin Warsh's Senate confirmation hearing, and Democrats and Republicans are casting the proceedings in two starkly different lights.

Republican committee chair Tim Scott says that confirming Warsh will be a chance to return the Fed to its meat-and-potatoes work of setting monetary policy, versus what he describes as mission creep at the Powell Fed.

Elizabeth Warren, the top-ranking Democrat on the Senate Banking Committee, uses her opening statement to highlight what she calls the irregularity of the Trump administration's relationship with the central bank.

"The president has repeatedly and illegally attempted to take over the Fed," Warren says. She paints Warsh as a political shapeshifter who would say anything to land a job he has long sought.

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(END) Dow Jones Newswires

April 21, 2026 10:24 ET (14:24 GMT)

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