Log In Get Started
Economy March 19, 2026

Bessent Says Warsh’s Hill Visits Positive as Confirmation Vote Faces Hold-Up

Treasury secretary praises nominee’s meetings but declines to weigh in on investigation tied to current Fed chair

By Hana Yamamoto
Bessent Says Warsh’s Hill Visits Positive as Confirmation Vote Faces Hold-Up

Treasury Secretary Scott Bessent said meetings between President Trump’s Federal Reserve chair nominee Kevin Warsh and U.S. senators have been productive, but he would not address whether a federal probe involving the current Fed chair will be discontinued. Warsh’s path to confirmation remains uncertain after a top Republican senator pledged to block the nomination while an investigation by federal prosecutor Jeanine Pirro continues.

Key Points

  • Treasury Secretary Scott Bessent said Kevin Warshs meetings with U.S. senators "are going very well," and a hearing for the nominee will be held.
  • A top Republican senator has vowed to block Warshs confirmation vote as long as federal prosecutor Jeanine Pirros probe of Fed Chair Jerome Powell continues, leaving the confirmation in limbo.
  • Sectors likely affected by this uncertainty include financial markets and banking, as leadership and policy direction at the Federal Reserve influence interest rates and market expectations.

WASHINGTON - Treasury Secretary Scott Bessent said on Thursday that Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, has been meeting with senators and that those engagements "are going very well." At the same time, Bessent declined to comment on the fate of a separate federal inquiry into the sitting Fed chair.

Warsh’s confirmation process is currently unsettled. A top Republican senator has publicly vowed to prevent a confirmation vote from moving forward so long as the federal prosecutor Jeanine Pirro maintains her probe of Fed Chair Jerome Powell.

Speaking in an interview with Fox Business Network, Bessent emphasized that hearings for the nominee will take place but warned that the final vote could be delayed. He said:

"Im not going to comment on the ongoing investigation. Well see where this goes. But what is going to happen: Kevin Warsh has been up on the Hill meeting senators. The meetings are going very well. There will be a hearing,"

and added:

"What will be held up is the vote."

The comments underscore a bifurcated outlook: a generally positive reception for the nominee during congressional meetings, paired with significant procedural uncertainty stemming from the ongoing investigation and the associated pledge by a senior Senate Republican to withhold a confirmation vote.

Those dynamics leave Warshs confirmation in a state of limbo. While hearings are now expected to proceed, the timing and outcome of a final Senate vote are unclear given the standoff tied to the investigation.

This episode highlights the intersection of executive branch nominations and separate investigative activity involving officials in the same institution. Bessent declined to elaborate on whether the investigation into the current Fed chair would be dropped, saying only that he would not comment on an ongoing probe.

As the process moves forward, observers will watch both the scheduled hearings and any developments in the probe that have led at least one influential senator to withhold support for a vote. Until those issues are resolved, the confirmation timeline for Warsh remains uncertain.

Risks

  • The confirmation vote for the Fed nominee may be delayed or blocked while the investigation involving the sitting Fed chair continues, creating procedural uncertainty for markets and policymakers.
  • Ongoing investigation-related developments could prolong political contention around the nomination, increasing short-term volatility for financial sectors sensitive to central bank leadership changes.

More from Economy

ECB Holds Rate at 2% and Flags Middle East Conflict as Downside Risk Mar 19, 2026 Spike in Oil Prices Narrows Window for Fed Rate Cut, Complicates Nominee's Outlook Mar 19, 2026 ECB Stands Pat at 2% as Middle East Conflict Clouds Euro Zone Outlook Mar 19, 2026 ECB lifts its inflation outlook as energy costs push projections higher Mar 19, 2026 ECB Holds Rates Steady, Signals Readiness to Counter Iran-Linked Inflation Risks Mar 19, 2026