Fed nominee Warsh clears a hurdle to Senate hearing

Federal Reserve chair nominee Kevin Warsh has submitted required paperwork to the Senate, two people familiar with the matter said Monday, requesting anonymity to discuss sensitive information ahead of its public release.

Filing his financial disclosures puts Warsh one step closer to a Senate hearing. A prior plan to hold that hearing this week had to be delayed after a holdup with the paperwork. Warsh is married to Estee Lauder heir Jane Lauder, whose net worth Forbes estimates at $1.9 billion.

The Senate will also need to receive Warsh’s answers to questions from the Senate Banking Committee, one of the people said. Once that questionnaire is received, the Senate can go ahead with formally giving notice of the hearing. It would take place next week at the earliest.

Warsh’s path to a full Senate vote is still unclear, however. Sen. Thom Tillis, R.-N.C., has said he will block final approval of Warsh’s candidacy until a federal criminal probe into Fed Chair Jerome Powell is resolved. Tillis is also a member of the Senate Banking Committee.

U.S. Attorney for the District of Washington, D.C. Jeanine Pirro is pledging to continue the case, despite recent setbacks.

Powell’s term as chair expires May 15. The Trump administration said last week it expects to have Warsh in place by then.