"Federal Reserve Chairman nominee Powell submits financial disclosure documents; confirmation hearing may start next week."

Sources revealed on Monday that Kevin Warsh, the nominee for Federal Reserve Chairman, has submitted the necessary financial disclosure documents to the Senate, taking an important step towards the confirmation process. According to the procedure, submitting financial information is a prerequisite for initiating Senate hearings. Previously scheduled hearings for this week had to be postponed due to a delay in the documents. Informed sources indicate that once the Senate Banking Committee receives Warsh's written responses to inquiries, the hearing arrangements could officially begin as early as next week. Warsh's personal background has also attracted market attention. He is married to Janelle Lavine, heir to Estee Lauder, whose estimated wealth is around $1.9 billion. However, his nomination still faces uncertainty. Republican Senator Tom Tillis has stated that he will block the final confirmation vote for Warsh until the federal criminal investigation against current Federal Reserve Chairman Powell is concluded. Tillis is also a member of the Senate Banking Committee, and his position may have a significant impact on the nomination process. Currently, the investigation against Powell is ongoing, led by Washington D.C. federal prosecutor Jennie Piro. Despite recent setbacks in the case, prosecutors have stated that they will continue with the investigation. In terms of timing, Powell's term as chairman expires on May 15th. The U.S. government has expressed its desire to complete the appointment process for Warsh before this date.