Recusal from Fed Nomination Opposition

Senator Thom Tillis, a Republican from North Carolina, announced on Sunday that he will not oppose President Donald Trump’s choice to succeed Federal Reserve Chairman Jerome Powell.

Previously, Tillis expressed intentions to oppose any Trump nominations for the Federal Reserve following a Justice Department investigation into the renovations of the Fed’s headquarters in Washington, which raised concerns about Kevin Warsh’s nomination. When asked about news that Jeanine Pirro, the U.S. attorney for the District of Columbia, had closed the investigation, his response indicated a shift.

“I have received reassurances from the Department of Justice that the case is entirely resolved, and any appeals would only occur if there’s a chance of altering a ruling for administrative reasons. This wouldn’t lead to reopening the investigation unless a new case comes up,” he stated. He added that he feels prepared to support Mr. Warsh’s confirmation, citing his belief that Warsh would excel as Fed chairman.

During an earlier visit to the Federal Reserve headquarters with South Carolina Senator Tim Scott, President Trump confronted Powell regarding the renovation costs, revealing documents suggesting that the expenses had ballooned to $3.1 billion—about a 25% increase.

In July, Florida Representative Anna Paulina Luna lodged a complaint against Powell, accusing him of misleading the Senate Banking Committee regarding the June 2025 renovations.

The dynamic between Trump and Powell has been tense, primarily due to disagreements over interest rate policies.