What you need to know  Federal Reserve chair nominee Kevin Warsh will face the Senate Banking committee at 10 a.m. on Tuesday for a confirmation hearing. Warsh would be the wealthiest Fed chair if confirmed, he disclosed to the committee. The pick of President Donald Trump, Warsh would replace Jerome Powell as Fed chair. Kevin Warsh, the 56-year-old former Federal Reserve governor, is taking the hot seat at 10 a.m. for his Senate Banking Committee confirmation hearing. Warsh will field questions on a wide range of issues, ranging from his views on monetary policy to his sprawling and complex personal finances. He would become the wealthiest Fed chair if confirmed. Some of the most important exchanges for his candidacy may center on how he views the boundaries between the Fed’s decision-making and politics. Questions about the Fed’s long-cherished independence have dominated the discourse surrounding the central bank during Trump’s second term. President Donald Trump, who originally nominated Jerome Powell for Fed chair during his first term in 2017, has waged a long-term campaign to try to browbeat the …