Kevin Warsh, Trump's pick to replace Jerome Powell, is testifying in the Senate right now.
Powell’s term ends in just 24 days
Key points :
- Trump wants lower interest rates and has repeatedly attacked Powell
- Senate is demanding proof Warsh will act independently
- Sen. Thom Tillis is blocking confirmation unless DOJ drops its investigation into Powell
Warsh is caught in the middle — trying to satisfy Trump, convince skeptical senators, and avoid looking political.
If not confirmed by May 15, Powell stays on temporarily.
Today’s hearing could shape interest rates, liquidity, and risk across every asset class

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YieldTuningFork

· 4h ago

The Senate's need for an "independence proof" is quite crucial; otherwise, the market will only see it as a politicized dovish tool.

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GateUser-88d5d071

· 5h ago

If Trump really treats interest rate cuts as a KPI, then the expectations for dollar liquidity will have to be rewritten.

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GateUser-a4680931

· 6h ago

I'm more concerned about his wording regarding financial conditions; if liquidity loosens, the copycat season might come back again.

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ColdWalletUnderTheNeonLights

· 6h ago

It feels like this time it's not about "who becomes the chairman," but rather "whether the White House can directly command the Federal Reserve."

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BridgeUnderTheMoonlight

· 6h ago

Warsh is the hardest one to balance: if you’re not “dovish” enough with Trump, you’ll get blasted, but if you’re not tough enough for the Senate, it won’t get through.

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BoringButBullish

· 6h ago

Don't forget the bond market: the presidential candidate + independence controversy, long-term interest rates and term premiums may provide the answer first.

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GateUser-f4b3df7a

· 6h ago

The key question is: can the expectation of interest rate cuts materialize? Otherwise, it's just a political show, and the dot plot remains the same in the end.

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GateUser-ecded933

· 6h ago

If it doesn't pass before 5/15, Powell temporarily taking over = continuation of policy inertia, which could actually be a positive for the market.

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TideShellLedger

· 6h ago

The hearing will reveal how he states his position on "independence" + "inflation priority," and a single sentence can ignite market sentiment.

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Post-RainCandlestick

· 6h ago

When the interest rate path changes, both BTC and the US stock market need to be re-priced accordingly; don't just focus on on-chain data.

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