Democrats on the House Financial Services Committee are expected to shine a spotlight on Trump-appointed regulators, but that light might shine brightest on one agency in particular.
The president’s escalating criticism of the central bank might be bluster. But it raises questions about how far he might go and what would happen if he tried to act.
A motion to limit debate on the nominee to run the consumer bureau passed along strictly party lines, setting the stage for her to be confirmed as early as next week.
President Trump stepped up his attacks on the Federal Reserve Board and its chairman, Jerome Powell, blaming the central bank for declines in the stock market.
Kathy Kraninger, who may get a confirmation vote as early as this week, has suggested a similar vision to that of the agency’s current acting chief. But some see signs she could bring a different approach to the job.
The Senate's approval of the Kansas banking commissioner leaves the board with two remaining seats to fill as the administration's nominees for the vacancies await votes.
Majority Leader Mitch McConnell filed a motion for cloture on the nomination of Kathy Kraninger to run the agency, setting up a potential vote later this month.
The Senate is poised to confirm Kansas Banking Commissioner Michelle Bowman to the Federal Reserve Board. But the nominations for the two other open seats are still in limbo.
