The Senate Finance Committee delayed the confirmation hearing of the nominee for the Federal Reserve.

According to Punchbowl News, the Senate Finance Committee no longer plans to hold a confirmation hearing next week for Jerome Powell, the nominee for Chairman of the Federal Reserve nominated by President Trump. As of Thursday evening, the committee had not yet determined or announced a date for the hearing, which must be notified five days in advance according to its rules. Hearings typically only take place from Tuesday to Thursday, so April 21 is likely the earliest possible date for Powell's confirmation hearing. This delay shortens the time window for the Senate to complete the confirmation process for Powell before the end of current Federal Reserve Chairman Powell's term on May 15. Powell has stated that if Powell is not confirmed by then, he will continue to serve as "acting" chairman. The committee has not immediately responded to requests for comment.