A key GOP senator is vowing to oppose Warsh’s nomination until the DOJ probe into Fed Chair Jerome Powell is resolved. Here’s why that’s a big deal.
President Donald Trump has a Jerome Powell-sized problem with installing Kevin Warsh as the new Fed chair.
A key Republican senator has vowed to oppose the confirmation of any nominee to be the next Federal Reserve chairman until the Department of Justice’s probe into Powell, the current chair, is resolved.
That senator — Thom Tillis of North Carolina — happens to sit on the Senate Banking, Housing, and Urban Affairs Committee, which considers Fed chair nominations. If all Democrats join Tillis in opposing Warsh’s confirmation, Warsh’s nomination will effectively be stuck in committee.
In a post on X on Friday, Tillis made clear that he has nothing against Warsh, who has otherwise been lauded as a strong pick by both Republicans and economists.
« Kevin Warsh is a qualified nominee with a deep understanding of monetary policy », Tillis wrote, later adding: « Protecting the independence of the Federal Reserve from political interference or legal intimidation is non-negotiable.
