Gate News message: April 5, a source familiar with the matter told CNBC that the U.S. Senate Banking Committee will hold a hearing on April 16 to review Kevin Wosch’s nomination to serve as Chairman of the Federal Reserve. At present, another criminal investigation involving the Federal Reserve is still ongoing, examining whether the current Chair, Powell, made false statements to Congress regarding the costly renovation of office buildings of the Federal Reserve. Despite this investigation, Wosch’s nomination process is still moving forward, which means the two parallel tracks pushed by the Trump administration may come into conflict. Banking Committee member Thom Tillis has said he will not vote to confirm Wosch before the investigation concludes, which means Trump cannot advance both processes at the same time. But by continuing to move forward with the hearing, Trump is clearly still trying to achieve that goal. The Senate Banking Committee has not yet placed the hearing on the public calendar.
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