Jessica Mendoza

What are some of the bigger economic problems that Warsh will need to deal with as Fed chair?

But before Warsh can face those economic challenges, he'll have to face Senate confirmation.

That's next.

Kevin Warsh is likely to be confirmed by the Senate to be the country's new Fed chair, since Republicans have a majority.

But there's at least one wrinkle ahead.

The current Fed chair, Jerome Powell, is currently under criminal investigation by the Department of Justice related to the renovation of the Federal Reserve Building.

Powell has denied any wrongdoing.

The investigation has lawmakers from both parties worried.

They say it looks like an attempt to interfere with the independence of the Fed.

So Senator Tillis' concern here is about Fed independence.

What do we know about how Warsh feels about that?

Given everything swirling around Walsh's appointment, how would you describe this moment of transition for the Fed?

So it sounds like we're not going to know how much things are going to change at the Fed, like immediately.

So, Nick, what are you watching out for next?

Well, sounds like there's going to be a lot to keep you busy in the coming months.

That's all for today, Friday, January 30th.

Additional reporting in this episode by Matt Grossman.

The Journal is a co-production of Spotify and The Wall Street Journal.

The show is made by...

Heather Rogers, Pierce Singey, Jeeva Kaverma, Lisa Wang, Catherine Whalen, Tatiana Zamise, and me, Jessica Mendoza.