WASHINGTON, DC - APRIL 21: Committee Chairman Sen. Tim Scott (R-SC) delivers an opening statement during the Senate Committee on Banking, Housing, and Urban Affairs confirmation hearing for Kevin Warsh, U.S. President Donald Trump's nominee for Chair of the Federal Reserve, in the Dirksen Senate Office Building on April 21, 2026 in Washington, DC. President Trump nominated Warsh, a former member of the Federal Reserve Board of Governors, to replace Jerome Powell amid bipartisan concerns over the Justice Department's criminal investigation into the central bank’s current leader. (Photo by Andrew Harnik/Getty Images)