Confirmation hearings for Federal Reserve chairman appointee Kevin Warsh began before the Senate Banking Committee on Tuesday, April 21st. Jim Iuorio of JI Financial walks through why this process matters for interest rates across the curve and what retail traders should be watching in the weeks ahead. Jim examines the policy question at the heart of the hearing. Warsh built his reputation as a hawk a decade ago during the Fed's balance sheet expansion debates, but a president who has publicly pressed for lower rates would presumably choose a chair aligned with that view. Senate questioning is where those two narratives collide.