Warsh fed hearing live updates: Kevin Warsh to face Senate Banking Committee at 10 a.m.

Kevin Warsh, the 56-year-old former Federal Reserve governor, is taking the hot seat at 10 a.m. for his Senate Banking Committee confirmation hearing.

Warsh will field questions on a wide range of issues, ranging from his views on monetary policy to his sprawling and complex personal finances. He would become the wealthiest Fed chair if confirmed.

Some of the most important exchanges for his candidacy may center on how he views the boundaries between the Fed’s decision-making and politics.

Questions about the Fed’s long-cherished independence have dominated the discourse surrounding the central bank during Trump’s second term.

President Donald Trump, who originally nominated Jerome Powell for Fed chair during his first term in 2017, has waged a long-term campaign to try to browbeat the central bank leader into hastily slashing interest rates. Powell in recent months has been embroiled in a Department of Justice criminal probe after refusing to acquiesce to Trump’s demands.

Warsh, in his prepared statement to the Banking Committee, gave a qualified endorsement of Fed independence — but noted he doesn’t believe that dynamic is endangered when the central bank’s actions are questioned by elected leaders.

CNBC’s reporters are covering the hearing, live on air and online from our bureaus in Washington and Englewood Cliffs, New Jersey.