Two informed sources revealed on Monday that Kevin Warsh, a nominee for Federal Reserve Chair, has submitted the necessary documents to the Senate. The completion of this financial disclosure filing moves Warsh a step closer to a Senate confirmation hearing. The hearing, originally scheduled for this week, was previously postponed due to procedural delays in the document submission. Warsh's wife is Jane Lauder, an heir to the Estée Lauder fortune, with Forbes estimating her net worth at $1.9 billion.

One of the sources indicated that the Senate is still awaiting Warsh's responses to a questionnaire from the Senate Banking Committee. Once these replies are received, the Senate can formally announce the hearing, which could take place as early as next week.

However, it remains uncertain whether Warsh will ultimately secure confirmation from the full Senate. Republican Senator Thom Tillis of North Carolina has stated that he will block Warsh's nomination until a federal criminal investigation involving current Fed Chair Jerome Powell is concluded. Tillis is also a member of the Senate Banking Committee.

Despite recent setbacks, U.S. Attorney for the District of Columbia, Janine Pirro, has vowed to continue pursuing the relevant case.

Powell's term as Federal Reserve Chair is set to expire on May 15. The Trump administration stated last week that it hopes Warsh will assume the position at that time.