Republican Sen Thom Tillis ready to confirm Warsh now that DOJ dropped probe
Fox Business • • business
Key Points:
- Sen. Thom Tillis, R-N.C., expressed willingness to support Kevin Warsh's confirmation as Federal Reserve board chair after the Justice Department ended its criminal probe into Chair Powell, citing concerns about the Fed's independence.
- U.S. Attorney Jeanine Pirro announced the closure of the federal investigation into the Federal Reserve's building project cost overruns, referring the matter to the Fed's Inspector General for further scrutiny.
- Pirro emphasized that her office could reopen the criminal investigation if new facts warrant it, while the Inspector General is conducting an independent evaluation of the project's substantial cost increases.
- The Federal Reserve's Office of Inspector General confirmed it is actively reviewing the building renovation project and plans to release the findings to the public and Congress once completed.
- Tillis described Warsh as an "outstanding nominee" and welcomed the Inspector General's investigation as a necessary and professional measure.
