Breaking! The Federal Reserve Chair nomination hearing is suddenly postponed, as global capital under the shadow of war is seeking the next safe haven.

Kevin Woor’s path to becoming Federal Reserve Chair has hit an unexpected pause. According to a political media report, the Senate Banking Committee has canceled the confirmation hearing scheduled for next week. As of Thursday evening, a new date has not yet been set.

Under the committee’s rules, hearings must be scheduled at least five days in advance and are typically held from Tuesday to Thursday. This means the earliest possible date has been pushed back to April 21. This delay directly compresses the time window to complete all confirmation procedures before Chair Jerome Powell’s term ends on May 15. Powell has stated that if his successor is not in place by then, he will remain temporarily in office.

The White House remains confident about the nomination. Kevin Hasset, director of the National Economic Council, publicly declared that Woor’s nomination “will definitely” be confirmed. He described Woor as the “top candidate” for the position and predicted he would garner broad, even bipartisan, support. Hasset emphasized that it is crucial to have “an excellent person” leading the Federal Reserve.

However, the realities on Capitol Hill are not to be ignored. Democratic lawmakers have openly opposed Woor’s nomination. More critically, Republican Senator Tom Tillis has explicitly stated that he will not support Woor during the ongoing investigation into the current Chair Powell. Although Hasset claims he will “discuss solutions” with Tillis, uncertainties remain.

The background of this personnel contest is highly complex. Woor has previously served as a Federal Reserve governor and is seen as an ally of the current administration. Markets generally believe that if he takes office, he may be more inclined to align with the government’s desire to lower interest rates, contrasting with Powell’s style of resisting political pressure during his tenure.

Meanwhile, geopolitical shocks are casting a shadow over the global economy. The joint military actions by the U.S. and Israel against Iran have provoked retaliation. The Strait of Hormuz—responsible for about one-fifth of global oil transportation—has experienced blockages, directly pushing up global energy prices.

Regarding the oil price shock, Hasset has tried to downplay its long-term impact, citing economic perspectives that this is a “temporary supply shock” and should not influence long-term inflation judgments. But concerns in the business community remain. BlackRock CEO Larry Fink warned that if oil prices reach $150 per barrel, it could trigger a “global recession.” United Airlines CEO Scott Kirby said the company is preparing for oil prices breaking above $100 and remaining there into next year, leading to reduced flights.

These two threads—the uncertainty over Federal Reserve leadership and the rising energy costs due to Middle East tensions—are intertwined. They point to a broader question: how will markets price risk and inflation amid policy and geopolitical volatility? For cryptocurrencies, this environment tests both their narrative as “digital gold” as a safe haven and their sensitivity to liquidity expectations.

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