Good Tuesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with David Faber and Mike Santoli today live from post nine of the New York Stock Exchange. Carl has the morning off.

Moments away, Fed Chair nominee Kevin Warsh facing his first big confirmation test with a much-awaited hearing in front of the Senate Banking Committee,

as big questions remain around Fed Independence, the ongoing investigation into the current Fed Chair, Jay Powell, we're going to take you live to the Capitol when that hearing begins,

listen to comments and questions and statements from the lawmakers and from Kevin Warsh.

And guys, there was a setup because Warsh, you know, released his opening testimony here.

And I think this was the money line because it kind of gets to the heart of what I think

a lot of the questions will center around, which is Fed Independence.

Here's what we expect the nominee, Kevin Warsh, to say.

I do not believe the operational independence of monetary policy

is particularly threatened when elected officials, presidents, senators, or members of the House

state their views on interest rates. Central bankers must be strong enough to listen to a diversity

of views from all corners. In other words, we can still be independent

and tune out the noise

when the president tells us

we want lower interest rates.

So expect to hear that kind of thing.

And we heard from President Trump this morning

on Squabbox, and he very much made clear

he still expects lower interest rates

and is going to keep the heat on

with this criminal investigation against Powell

and railed against how expensive the Fed renovation the building was again.

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