00:00There's still a lot of questions over how a confirmation for Kevin Warsh would actually work.
00:05But let's talk a little bit about the substance here.
00:08What are we expecting we might hear from the nominee next week?
00:13So you've got the politics and the policy on policy.
00:16To your point, it would be interesting to hear whether or not Mr. Warsh maps out the kind of dovish
00:21messaging that he was sending in the months before he got the nomination.
00:25Does he believe interest rates can go lower?
00:27And if so, how does he plan to do that and by when?
00:31And, of course, Katie, the other point is his competition on Iran more and how does that complicate that outlook?
00:36So in terms of policy itself, lots to think about.
00:39Balance sheet reduction, his views on QE, all of that side of it.
00:43And then there's the politics or the institution.
00:45What message will he send on standing up for the Fed against political interference?
00:49What changes will he make to how the Fed operates internally?
00:51We know he's been very critical.
00:53Plenty of others in the White House have been critical too.
00:55So it's really the first opportunity we're going to get to hear from him since his nomination.
00:59And there's going to be a lot of ground to cover.
01:01And in less than a minute here, just bring us up to speed on the politics side and what we're
01:06hearing from Tillis, of course.
01:09So no sign of an off-ramp for the Department of Justice investigation into the Fed on allegations of overspend
01:15on the renovation of headquarters.
01:17That's carrying on, Katie, as is.
01:19On the other side, as you mentioned, Senator Tillis, a key swing vote on the committee that is meant to
01:24confirm Mr. Warsh.
01:26He says he's not going to approve anyone until that D&J investigation comes to an end.
01:30As I say, right here, right now, there is no sign that investigation is going to conclude.
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