Kevin Warsh, nominated by former President Donald Trump, will appear before the Senate Banking Committee for a confirmation hearing today. This hearing is highly anticipated as Warsh seeks to secure his position as chair of the US Federal Reserve. He must convince at least 51 of the Senate's 53 Republicans of his suitability while maintaining a delicate balance with Trump's expectations. In his prepared remarks, Warsh will stress the necessity of the Fed's independence in setting interest rates to manage inflation, asserting that political views should not threaten this autonomy. However, he faces scrutiny from Democrats regarding his extensive personal wealth and potential conflicts of interest. The hearing is expected to be contentious, particularly with Republican Senator Thom Tillis indicating he may block the nomination until a criminal investigation into current Fed chair Jay Powell is resolved. The outcome of this hearing could significantly influence US monetary policy and the Fed's operational independence.