What Happens at the Fed If Kevin Warsh Isn’t Confirmed by May 15

AI Briefing

• – If the Senate does not confirm Jerome Powell as Fed chief by May 15, the Federal Reserve will remain in a 'lame duck' status, leaving it vulnerable to criticism from lawmakers and the public.
• – The Fed will continue to make decisions as usual, but its ability to set monetary policy and make major decisions will be limited.
• – The Fed's influence on interest rates and the economy will be diminished until a new chairman is confirmed.