Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows
Sen. Tim Scott predicts Kevin Warsh confirmation, says Jay Powell was 'inept' but not criminal
Loading...
Summary
Sen. Tim Scott expressed confidence Kevin Warsh will be confirmed as Federal Reserve chairman, saying Sen. Tom Tillis will support Warsh; Scott also called Jay Powell 'inept' in testimony but said that does not amount to a crime.
Sen. Tim Scott expressed near-certainty that President Biden's pick for Federal Reserve leadership, Kevin Warsh, will be confirmed, citing productive conversations with Sen. Tom Tillis and committee consensus.
"100%," Scott said when asked about Mr. Warsh's confirmation odds. He added that his conversations with Tillis were "very productive" and that he expected solid Republican backing on the committee.
The interviewer noted that Sen. Tillis had linked his hold on Federal Reserve nominees to a Justice Department inquiry into former Fed Chair Jay Powell's Senate testimony. Scott said he believed Powell had been "inept" during his appearance but emphasized that ineptness or incompetence is not a criminal act.
"I do not believe that he committed a crime during the hearing," Scott said, calling Powell's performance a "gross error in judgment" but not criminal conduct. Scott said resolving that issue would allow committee votes to move forward.
The interview did not record a committee vote or an official change in recorded positions; Scott framed his comments as a prediction based on private conversations and committee dynamics.
