Thom Tillis Is Prepared to Advance Kevin Warsh After U.S. Drops Fed Inquiry
The New York Times • • business
Key Points:
- Senator Thom Tillis of North Carolina has agreed to lift his blockade on Kevin Warsh’s nomination to lead the Federal Reserve, enabling the Senate to proceed with the confirmation process.
- Tillis had previously refused to advance any Fed nominee while the Trump administration investigated current Fed Chair Jerome Powell, an inquiry viewed by many as politically motivated.
- The Justice Department, led by U.S. Attorney Jeanine Pirro, decided to drop the investigation into cost overruns at the Fed’s headquarters, which was a key factor in Tillis’s decision to support moving forward.
- Tillis stated that discussions with the Justice Department assured him the investigation was fully ended and not being used to threaten the Fed’s independence.
- Warsh, a former Fed governor, has broad Republican support but faces criticism from Senate Democrats who view him as aligned with President Trump’s preference for lower interest rates.
