Warsh's Fed Chair Nomination Stalled by DOJ Probe

0:00President Trump's pick for the next Federal Reserve Chair, Kevin Worsh, is heading into a rough confirmation battle in the Senate. The Banking Committee starts his hearing on Tuesday, but Republican Senator Tom Tillis from North Carolina is already threatening to block any vote. Until the Justice Department ends its probe into the Fed, that investigation has nothing to do with Worsh himself, making this a weird hurdle right out the gate. Tillis wants the DOJ to drop the case, even though they vowed to appeal a judge's ruling against it. If the administration pulls the plug, it could smooth the path for Worsh, but for now, things are stalled. This side drama is stealing the spotlight from the nominee's own record. Critics like Democratic Senator Elizabeth Warren are hammering Worsh for shifting his stance on interest rates, suggesting he'll just follow Trump's demands. Trump has been vocal about wanting cuts, which raises big worries about the Fed's independence. Even if Worsh pushes for lower rates, citing AI boosting productivity, the Fed's 12-member

1:01committee might not go along, especially with inflation. Stover and above the 2% target amid tensions like the Iran situation spiking gas prices. Worsh also wants to shrink the Fed's role overall, saying it should stick to stable prices and jobs, talk less, and stay at a broader economy stuff. He's pushing for a leaner central bank that doesn't overreach. As this plays out, keep an eye on whether the DOJ blinks first or if Worsh's vision wins over enough senators to break through the noise. That's your update from California News Today, powered by AI.