Thom Tillis Opposes Trump’s Fed Chairman Nomination Amid Ongoing Investigation
Senator Thom Tillis (R-N.C.) announced that he will block President Trump’s choice for the next Federal Reserve chairman until the administration wraps up its investigation into the current chairman, Jerome Powell.
Tillis, who seems to be navigating a careful relationship with the Trump administration, expressed his intention to prevent Kevin Warsh’s confirmation in a post on X. “Kevin Warsh is well-versed in monetary policy and possesses the necessary qualifications,” he stated. Still, he emphasized that the Department of Justice is engaged in a criminal inquiry related to Powell, suggesting that the evidence does not support any claims of criminal intent.
“I will oppose confirmation of any Fed nominee, including the chairman position, until the Justice Department’s investigation into Chairman Powell is fully and transparently resolved,” Tillis added.
Powell has led the Federal Reserve since 2017 under Trump’s appointment and is currently under scrutiny by the Justice Department. The investigation focuses on his $2.5 billion renovation of the Fed’s headquarters and his testimony to the Senate about the project.
Although the ongoing inquiry doesn’t directly involve Powell’s role as Fed chair, some lawmakers perceive it as a tactic by Trump to pressure him into lowering interest rates.
Trump has consistently called for changes, but Powell insists on the importance of maintaining the Fed’s independence from political influence. While the Fed’s primary mission is to ensure financial stability by managing the money supply and credit conditions, Powell stresses that its autonomy should remain intact.
Representative Brad Sherman (D-Calif.), the leading Democrat on the House Financial Services Committee, contends that there’s a clear link between the Justice Department’s investigation and Trump’s frustration with Powell’s reluctance to cut interest rates. He criticized the investigation as being unjustified, pointing out that other federal projects don’t draw similar scrutiny.
Tillis echoed similar sentiments earlier, condemning the investigation and affirming his stance to withhold support for any Fed chair nominations until the inquiry is resolved. “Protecting the independence of the Federal Reserve from political interference or legal threats is non-negotiable,” said Tillis, signaling that his position remains steadfast.
