US EditionSen. Tillis says he’s ready to move ahead with confirming Warsh as Trump’s pick as Fed chair
Tillis said the probe threatened Fed independence and that Warsh can advance after DOJ closed the case and handed the review to an inspector general.
- On Sunday, Sen. Thom Tillis of North Carolina dropped his opposition to President Donald Trump's Federal Reserve nominee, Kevin Warsh, removing a major hurdle for the GOP-controlled Senate Banking Committee to advance the nomination.
- The Justice Department ended its investigation into the Federal Reserve's $2.5 billion building renovations, which had stalled Warsh's confirmation process. Tillis received assurances the case was completely settled, enabling him to move forward.
- Scheduled for Wednesday, the committee will vote on Warsh's nomination after he pledged at a hearing last week to be "an independent actor." President Trump said Saturday he expects the process to be smooth.
- Massachusetts Sen. Elizabeth Warren denounced the nomination, arguing Warsh "proved in his nomination hearing to be nothing more than President Trump's sock puppet" and questioned his ability to lead the Fed independently.
- Since appointing Jerome Powell in 2017, President Trump has pressured the Federal Reserve to cut interest rates. Even if replaced, Powell could elect to remain on the board as a governor until January 2028.
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83 Articles
Monetary policy. Kevin Warsh is scheduled to take over the head chair of the US Federal Reserve Fed on May 15. At the end of the investigation against Jerome Powell, a stumbling block has been removed, which is of great importance to investors.
Sen. Tillis Backs Fed Chair Nominee Kevin Warsh Amid Powell Scrutiny
Sen. Thom Tillis (R-N.C.) said Sunday he is ready to confirm President Donald Trump’s nominee to lead the Federal Reserve, saying he will no longer stall the proceedings. “I am prepared to move on with the confirmation of Mr. Warsh,” Tillis said on NBC’s “Meet the Press.” “I think he’s going to be a great Fed chair.” Tillis’s comments were made as lawmakers weigh the nomination of Kevin Warsh, a former Federal Reserve official, against the backd…
Sen. Thom Tillis says he's ready to move ahead with confirming Warsh as Fed chair after DOJ drops probe on Powell
Tillis' opposition was enough to stall the nomination in the GOP-controlled Senate Banking Committee as Powell neared the scheduled end of his term on May 15.
Los Angeles Times
Independent EspañolThe Republican senator who has been blocking the confirmation of President Donald Trump's candidate to head the Federal Reserve said Sunday that he was withdrawing his opposition after the Justice Department ended its investigation into the current president of the central bank.
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