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U.S. Treasury Secretary: Senate Financial Committee agrees to advance the hearing on Wosh's Federal Reserve appointment case
U.S. Treasury Secretary Janet Yellen on Friday said that despite a key senator’s reservations about the nomination, the Senate Banking Committee has agreed to move forward with confirmation hearings for President Trump’s nominee, Kevin Waugh, to succeed Jerome Powell as Federal Reserve Chair. Yellen stated, “I believe holding the hearings is crucial. Chairman Powell’s term will end in mid-May, and anyone concerned about the Fed’s integrity and independence would want to see Kevin Waugh ensure continuity.”