Democratic Senators Seek Delay in Warsh's Fed Chair Nomination

Senators cite ongoing investigations into Fed Chair Powell and Governor Cook as reason to postpone proceedings

Feb. 3, 2026 at 11:55pm

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The Democratic members of the Senate Banking Committee have asked the Republican committee chair, Senator Tim Scott, to delay the nomination proceedings for former Federal Reserve governor Kevin Warsh, President Donald Trump's pick to be the next chair of the U.S. central bank. The Democrats cited the administration's "repeated efforts" to influence the Fed through "intimidation", including opening criminal investigations into Fed Governor Lisa Cook and Fed Chair Jerome Powell.

Why it matters

The nomination of Warsh comes amid an ongoing power struggle between the Trump administration and the Federal Reserve, with the administration seeking to exert more control over the central bank's monetary policy decisions. The Democrats' request for a delay highlights the partisan tensions surrounding the Fed's independence and the potential for political interference in its operations.

The details

The Democratic senators, led by ranking member Elizabeth Warren, demanded that the nomination proceedings be delayed until the "pretextual criminal investigations" involving Powell and Cook have been closed. Cook is suing to stop Trump from firing her, while Powell has said the DOJ inquiries are part of a broader attempt by the administration to improperly influence the Fed.

  • On February 3, 2026, the Democratic members of the Senate Banking Committee sent a letter to Republican committee chair Senator Tim Scott requesting a delay in the nomination proceedings for Kevin Warsh.
  • On January 2026, Fed Chair Jerome Powell revealed in a rare Sunday-evening video message that the Department of Justice had opened an investigation into him.

The players

Kevin Warsh

Former Federal Reserve governor and President Donald Trump's pick to be the next chair of the U.S. central bank.

Elizabeth Warren

Ranking member of the Senate Banking Committee and one of the Democratic senators who signed the letter requesting a delay in Warsh's nomination proceedings.

Lisa Cook

Federal Reserve governor who is suing to stop President Trump from firing her.

Jerome Powell

Current Federal Reserve Chair who says the DOJ's inquiries into him are part of a broader attempt by the Trump administration to exert improper control over the central bank's monetary policy decisions.

Tim Scott

Republican committee chair of the Senate Banking Committee.

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What they’re saying

“The nomination comes after months of repeated efforts by President Trump and his Administration to influence the Fed by intimidation, including by opening criminal investigations into Fed Governor Lisa Cook and Fed Chair Jerome Powell.”

— Elizabeth Warren, Ranking member of the Senate Banking Committee (ksgf.com)

“Kevin Warsh's nomination to the Federal Reserve has been resoundingly endorsed by business and political leaders because his academic credentials, private sector success, and experience on the Fed Board of Governors are unimpeachable.”

— Kush Desai, White House spokesman (ksgf.com)

What’s next

The White House has not yet formally transmitted Warsh's nomination to Congress, and it remains to be seen whether the Senate Banking Committee will delay the proceedings as requested by the Democratic senators.

The takeaway

This dispute over Warsh's nomination highlights the ongoing tensions between the Trump administration and the Federal Reserve, with the Democrats accusing the White House of trying to improperly influence the central bank through intimidation tactics. The outcome of this nomination process could have significant implications for the Fed's independence and the future direction of U.S. monetary policy.