The Globe and Mail reports in its Tuesday, April 21, edition that Kevin Warsh will tell the Senate banking committee today that the Federal Reserve's independence in setting interest rates is "essential" and that decisions should be based on "analytic rigour." A New York Times dispatch to The Globe reports that Mr. Warsh will advocate for a balance between openness to new ideas and making sound judgments based on imperfect data. Mr. Warsh's Senate testimony will be crucial in his effort to replace Jerome Powell as Fed chair, whose term ends May 15. However, Senate confirmation is uncertain due to concerns over the administration's attempts to undermine the Fed's independence. President Donald Trump is pushing for lower interest rates and has criticized Mr. Powell and Fed officials for not achieving this. He has also tried to oust board member Lisa Cook, whose lawsuit against her removal is under Supreme Court review. The Justice Department has opened a criminal investigation into Mr. Powell's management of expensive renovations at the Federal Reserve's headquarters. Senator Thom Tillis, a Republican from North Carolina, has pledged to block any Fed nominee from a full Senate vote until the legal issues are resolved.