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Bessent says Fed nominee Warsh meetings with lawmakers going well

BY Reuters | ECONOMIC | 08:37 AM EDT

WASHINGTON, March 19 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Thursday that meetings between President Donald Trump's Fed chair nominee, Kevin Warsh, and U.S. lawmakers are going very well, but would not comment on whether a federal investigation of the current chair would be dropped.

Warsh's confirmation by the Senate has been placed in limbo by a top Republican senator's vow to block the nomination as long as federal prosecutor Jeanine Pirro's probe of Fed Chair Jerome Powell continues.

"I'm not going to comment on the ongoing investigation. We'll see where this goes. But what is going to happen: Kevin Warsh has been up on the Hill meeting senators. The meetings are going very well. There will be a hearing," Bessent said in an interview with Fox Business Network. "What will be held up is the vote." (Reporting by Doina Chiacu and David Lawder; Ediring by Andrew Heavens)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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