Tillis suggests Warsh faces long Fed chair nomination process that could restrict his business life

CBS News • February 13, 2026 • business

Key Points:

Senator Thom Tillis of North Carolina announced he will oppose the confirmation of any Federal Reserve nominee, including Kevin Warsh, President Trump's pick for Fed chair, until the Justice Department resolves its investigation into current Fed Chair Jerome Powell.
Tillis highlighted that Warsh must decide whether to proceed with his nomination process due to restrictions on his business activities once nominated, and emphasized the importance of protecting the Fed's independence from political and legal pressures.
The investigation into Powell, led by U.S. Attorney Jeanine Pirro, centers on subpoenas related to Powell's 2025 testimony about cost overruns in the Fed's headquarters renovation; Tillis and other Republicans have criticized the probe as politically motivated and unwarranted.
Treasury Secretary Scott B

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