The nomination hearing for Walsh as Federal Reserve Chair has been reported to be postponed, and the White House shouts: Walsh will definitely be on in May!

According to a report by the American political news outlet Punchbowl News on Thursday, citing two informed sources, the U.S. Senate Banking Committee no longer plans to hold a confirmation hearing next week for President Trump's nominee for Federal Reserve Chair, Kevin Warsh.

As of Thursday evening local time, the committee had not determined or announced a date for the hearing. According to its rules, a hearing must be announced five days in advance.

Hearings are typically scheduled to take place from Tuesday to Thursday, which means that April 21 could be the earliest possible date for Warsh's nomination hearing.

This delay shortens the time window for obtaining full Senate confirmation before the current Federal Reserve Chair Jerome Powell's term ends on May 15.

Powell has stated that if Warsh has not been confirmed by then, he will continue to serve as "acting" chair.

The committee did not immediately respond to a request for comment.

Punchbowl previously reported on March 29 that the hearing would take place next week.

White House Confident Warsh Will Become Federal Reserve Chair in May

According to The Hill, Kevin Hassett, Director of the National Economic Council, stated on Thursday that Warsh's nomination is "absolutely" expected to be confirmed.

Hassett told Fox Business Network's Maria Bartiromo that Warsh is the "top candidate" for the position, but he also acknowledged that the military actions taken by the Trump administration against Iran have created current economic challenges.

"I think (interest rates) should be lower. I believe my friend Kevin Warsh might think so too. I haven't talked to him in the last week or two, but this issue will come up at the hearing," Hassett added, stating that Warsh has received "a lot of support—possibly even bipartisan support."

Warsh's appointment as Federal Reserve Chair depends on a majority vote approval from the U.S. Senate. Democrats have been openly opposed to Warsh's nomination. Additionally, North Carolina Republican Senator Thom Tillis has stated that he will refuse to support Warsh's nomination while the Trump administration conducts a criminal investigation into current Federal Reserve Chair Powell.

Despite these objections, Hassett expressed "high confidence" in the prospects of Warsh's nomination and stated that the administration would "work out a solution" with Tillis.

"I think we are doing this because it is crucial to get a great person into the Federal Reserve," the Trump administration official said.

"As for Jay Powell, he has made it clear that once a confirmed Federal Reserve Chair is in place, he will step aside, which is what he should do," Hassett continued, adding that he expects Powell will not remain on the Federal Reserve Board.

Warsh was a member of the Federal Reserve Board and is an ally of the Trump administration. Trump has previously stated that he expects the next Federal Reserve Chair to consult with him on interest rate decisions. The Trump administration has consistently called for lower interest rates, while Powell has resisted this pressure during his tenure.

As Hassett made these remarks, the joint military actions by the U.S. and Israel against Iran are causing a global economic downturn.

Iran's retaliation against U.S. targets and energy infrastructure in the Persian Gulf has made it impossible for oil-carrying ships to pass through the Strait of Hormuz. Under normal conditions, this strait transports about one-fifth of the world's oil consumption daily, and its effective closure has driven up global energy prices.

During an interview with Fox Business Channel on Thursday morning, Hassett downplayed the long-term impact of these rising costs on the U.S. economy.

"The fact is, in terms of policy, supply shocks (like oil shocks) are widely regarded in economic literature as phenomena that you should ignore, and even in the Federal Reserve's meeting minutes, it is clear that many people in the Fed understand this—it's a temporary disruption, not the kind of factor that affects long-term inflation rates," he said.

The Trump administration's assurances have done little to quell concerns among American business leaders about the ripple effects this conflict may have on the U.S. economy.

Larry Fink, CEO of BlackRock, warned at the end of March that a "global recession" could occur if oil prices reach $150 per barrel.

Additionally, United Airlines CEO Scott Kirby stated last month that his company is preparing for oil prices to exceed $100 and persist into next year by reducing flights.

"I think if you start to observe what is happening in the Middle East, and even if the Strait of Hormuz reopens, how long it will take to recover, it seems like a reasonable assumption for us, so we want to plan for that," Kirby told CNBC.

The CEO went on to say, "We hope things will improve, but the cost of planning for these types of things is actually not high. We will reduce some flights, and if oil prices are lower, we are willing to retain some demand, but at the same time, we want to be prepared for oil prices to remain high for a long time."