Gate News message, April 20 — The U.S. Senate Banking Committee confirmed that the confirmation hearing for Kevin Warsh, the Federal Reserve chair nominee, will take place on April 21 at 10 a.m. ET (11 p.m. Korean time). Warsh, a former Federal Reserve board member, was nominated by President Donald Trump.
Market participants expect that if confirmed, Warsh will pursue aggressive interest rate cuts given his close alignment with the Trump administration. However, the hearing faces political uncertainty. While Republicans hold a 13-11 majority on the Banking Committee, Republican Senator Tom Tillis has stated he will oppose Warsh’s confirmation until the Justice Department investigation into Federal Reserve Chair Jerome Powell concludes. If Tillis votes against the nomination, the committee vote could result in a tie, preventing the nominee from advancing.
This week’s key macroeconomic data releases include U.S. March retail sales on April 21 at 9:30 a.m. ET, weekly jobless claims on April 23 at 9:30 a.m. ET (last week at 207,000, down 11,000 from the prior week), and preliminary April services and manufacturing PMI readings on April 23 at 10:45 a.m. ET. Market observers note that positive remarks from Warsh on rate cuts during the hearing could boost risk asset prices, including cryptocurrencies.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
TradFi Fall Alert: USDBRL (US Dollar vs Brazilian) Falls Over 0.5%
Gate News: According to the latest Gate TradFi data, USDBRL (US Dollar vs Brazilian) has dropped by 0.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews30m ago
US Treasury Accepts Donations to Help Pay $39 Trillion National Debt
The Trump Treasury Department is accepting donations from Americans to help reduce the US national debt, which has reached $39 trillion according to the department's official website. This comes as interest payments on federal borrowing have surpassed spending on Medicare and the defense budget.
Th
CryptoFrontier1h ago
TradFi Fall Alert: USDBRL (US Dollar vs Brazilian) Falls Over 0.5%
Gate News: According to the latest Gate TradFi data, USDBRL (US Dollar vs Brazilian) has dropped by 0.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews1h ago
Fed Holds Rates Steady in April With 100% Probability; June Rate Cut Odds at Just 4.7%
Gate News message, April 26 — According to CME FedWatch, the probability of the Federal Reserve holding rates steady in April stands at 100%. Looking ahead to June, the odds of a cumulative 25-basis-point rate cut are just 4.7%, while the probability of maintaining rates unchanged is 95.3%.
The dat
GateNews3h ago
DOJ Drops Criminal Investigation Into Powell, Clearing Path for Crypto-Friendly Warsh to Lead Fed
Gate News message, April 26 — The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, clearing the way for the Senate to confirm Kevin Warsh as the incoming central bank chair. U.S. Attorney for the District of Columbia Jeanine Pirro
GateNews6h ago
Major Central Bank Decisions and Tech Earnings Set to Drive Markets Next Week
Gate News message, April 26 — Next week brings a super central bank week and earnings season, with the Federal Reserve, Bank of Japan, Bank of England, European Central Bank, and Bank of Canada all set to announce interest rate decisions. The Federal Reserve will release its rate decision at 2 a.m.
GateNews9h ago
