Bessent expects Senate Republicans to proceed with Fed chief nomination hearing
The Hill
by Fiona BorkFebruary 13, 2026
AI-Generated Deep Dive Summary
Treasury Secretary Scott Bessent has announced that he has reached an "agreement" with the Senate Banking Committee, signaling that the committee will move forward with a hearing to nominate the next Federal Reserve chief after a two-week delay. The decision comes following opposition from Sen. Thom Tillis (R-N.C.), who had blocked the scheduling of the hearing. Bessent's announcement suggests progress in resolving the impasse, paving the way for the Senate to address the critical role of Federal Reserve chair.
The delay was caused by Tillis, a senior member of the Senate Banking Committee, who expressed concerns about the nomination process and its implications for U.S. economic policy. His objections raised questions about whether there was broader Republican support for moving forward with the hearing. However, Bessent's statement indicates that an agreement has been reached to advance the nomination, potentially allowing the Senate to hold the hearing in the coming weeks.
This development is significant because the Federal Reserve plays a pivotal role in shaping monetary policy and maintaining economic stability in the United States. The selection of the next Fed chair will influence key decisions on interest rates, inflation control, and financial regulations. With the current Fed leadership set to transition, the timing of the nomination and confirmation process has become a focal point for lawmakers and economists alike.
For readers interested in politics and economics, this matter highlights the ongoing dynamics between the executive and legislative branches of government. The delay and subsequent agreement underscore the complexities of navigating high-stakes nominations, particularly for positions with far-reaching economic impacts. As the Senate
Verticals
politicsnews
Originally published on The Hill on 2/13/2026