Kevin Warsh’s Trial Held on April 16, Interest Rate Cut Hopes Diminish!

Jakarta, Pintu News – Global financial markets are again facing uncertainty after the scheduled hearing for Kevin Warsh’s nomination as Federal Reserve Chair was set for April 16, 2026. This momentum comes amid declining expectations of interest rate cuts that were previously expected by investors, including in the crypto and cryptocurrency sectors.

This uncertainty is exacerbated by the investigation into the current Fed Chair, Jerome Powell. This combination of political and economic factors is creating new pressures for the already fragile global markets.

Kevin Warsh’s Hearing and the Political Dynamics at the Fed

The United States Senate Banking Committee is scheduled to hold a hearing on Kevin Warsh’s nomination in mid-April. Although it has not been officially listed on the public agenda, internal sources confirmed the date.

This process is crucial because it will determine the direction of US monetary policy going forward. In a global context, this decision also affects risky assets such as cryptocurrencies.

However, the nomination process did not go smoothly due to resistance from some members of the Senate. Senator Thom Tillis stated that he would not support Warsh until the investigation into the Fed was complete.

Nonetheless, President Donald Trump continues to push for an accelerated confirmation process. This situation creates political uncertainty that could affect market confidence.

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Jerome Powell Investigation Adds Pressure

On the other hand, pressure on the Federal Reserve is increasing due to the investigation into Jerome Powell. This investigation relates to alleged misrepresentations to Congress regarding the renovation of the Fed building. Powell denied the allegations and called it a politically charged issue. However, the ongoing legal process remains a concern for the market.

A federal judge even limited the scope of the investigation by blocking some subpoenas. The court said there was no preliminary evidence of fraud in the case. However, prosecutors said they would appeal to continue the investigation. This legal uncertainty adds pressure to the central bank’s credibility.

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Interest Rate Cut Expectations Continue to Fall

Amidst these political dynamics, market expectations for interest rate cuts continue to decline. The latest data shows that the chance of a cut in April is only around 1%. For June, the probability was around 11%, while July fell to 21%. This trend shows that market participants are increasingly pessimistic about easing monetary policy in the near future.

This decline in expectations was influenced by various factors, including high inflation and rising global energy prices. Geopolitical conflicts, particularly related to Iran, have also pushed up oil prices. These conditions amplify inflationary pressures, making it difficult for the Fed to lower interest rates. The impact was also felt on the crypto market, including Bitcoin (BTC) and Ethereum (ETH), which are sensitive to monetary policy.

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Reference

• CoinGape. Kevin Warsh Fed Chair Nomination Hearing Set for April 16. Accessed April 6, 2026
• Featured Image: Bloomberg