The Chairman of the U.S. Senate Banking Committee, Tim Scott, has spoken with Federal Reserve Chair Jerome Powell and suggested he testify again before the committee. Scott stated that Powell was "severely unprepared" during his previous testimony, but clarified that "he did not commit any crime." "I hope that lawsuit will be dropped. Then we could move very quickly to advance Kevin Warsh as the next Fed Chair," he added. Note: Kevin Warsh, a nominee for Federal Reserve Chair, failed to persuade Republican opponents to stand aside during recent meetings.