Tyler Kendall

This is essentially the gatekeeper for Kevin Warsh's nomination.

This is the first place that it will go for its vetting.

before it heads over to the full floor for the full senate floor for a vote and as you well know senator tom tillis a republican on this committee has been threatening to block that until the legal matter against fed chair jerome powell is resolved i've been talking to a few different republican members on this committee keep in mind they only have a 13-11 majority so all it takes is tillis's vote to block this nomination but a lot of them are telling me that they want to see

This investigation wrapped up as quickly as possible.

That includes Senator John Kennedy of Louisiana, who has previously been a pretty staunch advocate for the Federal Reserve's independence.

It's not clear what the White House will agree to.

And the real issue is even if there is an agreement, this plan is going to require it to be kicked back down to the House no matter what.

And lawmakers in that chamber are out of session and out of Washington until next week.

And the funding deadline is this Friday at midnight, which means that we are likely looking at a lapse in funding at least over the weekend.

It appears the agreement that's emerging would strip out DHS funding and allow lawmakers to pass the other five appropriations bills.

There's also talk that we could see what's known as a short-term stopgap measure to fund DHS in the meantime while they work out a broader, longer-term approach.

We just heard from the Treasury Secretary Scott Besant maintaining that the U.S.

has a strong dollar policy, but a rather relaxed tone from President Trump last night.

And the president himself going back has had concerns.

competing views before, right?

He's previously signaled that a strengthening could help in bilateral trade negotiations, but he has also long maintained that a weaker currency could be better when it comes to boosting some of those industries that he has been focused on, particularly domestic.

The issue with that, though, is that any changes to the broader spending package would have to get kicked back down to the House and the crown of Washington until February 2nd, which means that they would have to come back in early.

And we're already starting to see some issues and delays on Capitol Hill related to the weather.

If we look at the math here, Republicans need seven Democrats to get on board with the spending package as it stands.

And we've already started to see some of those Democrats that supported Republicans last time around start to peel off when it comes to their support.