Sen Thom Tillis to block Trump Fed nominee Kevin Warsh over DOJ’s Powell probe
NEWYou can now listen to Fox News articles!
Sen. Thom Tillis, R-N.C., said he will oppose Trump’s next pick to chair the Federal Reserve until the administration ends its investigation into the current Fed.
Tillis, who has no qualms about clashing with the Trump administration and will not seek re-election, announced he will block Kevin Warsh’s confirmation In a post I wrote to X Friday morning.
“Kevin Warsh is a qualified candidate with a deep understanding of monetary policy,” Tillis wrote. “However, the Department of Justice continues to pursue a criminal investigation into Chairman Jerome Powell based on committee testimony that no reasonable person could interpret as indicating criminal intent.”
JEANINE PIRRO ANSWERS FED CHAIRMAN POWELL, SAYS ‘NO ONE IS ABOVE THE LAW’ ON THE CENTRAL BANK INVESTIGATION
Sen. Thom Tillis, R-N.C., said he will oppose Trump’s next pick to chair the Federal Reserve until the administration ends the investigation into Jerome Powell. (Tom Williams/CQ Polling, Inc. via Getty Images)
“Until the DOJ’s investigation into Chairman Powell is fully and transparently resolved, I will oppose the confirmation of any Federal Reserve nominee, including the position of Chairman.”
Powell, who has led the Fed since Trump nominated him for the post in 2017, is under investigation by the Justice Department for his handling of the $2.5 billion renovation of the Fed headquarters and for statements he made under oath before the Senate about the construction of that building.
The Trump administration is investigating whether Powell knowingly misled lawmakers about the project’s duration and costs.
Although the investigation officially has nothing to do with Powell’s responsibilities as Fed chair, a bipartisan group of lawmakers interpreted the investigation as a way for Trump to pressure Powell to lower interest rates.
President Donald Trump speaks at the launch of the program known as Trump Accounts at the Andrew W. Mellon Auditorium in Washington, D.C. on January 28, 2026 (Jose Luis Magana/AP Photo)
THUNE WARNED THAT DOJ’S INVESTIGATION OF FED CHAIRMAN POWELL ‘MUST BE REAL’ AND ‘SERIOUS’ WHEN THERE ARE POLITICAL REACTIONS
Trump has repeatedly called for such a change, and Powell has so far resisted, arguing that the agency must preserve its independent operations.
The Fed maintains the financial stability of the United States by managing the United States’ money supply and credit conditions to keep inflation in check and maximize employment; A mission that Powell said needs to be separate from any administration’s political goals.
Rep. Brad Sherman (D-Calif.), the top Democrat on the House Financial Services Committee, believes there is a clear connection between the Justice Department investigation and Trump’s frustration with Powell’s refusal to cut interest rates.
When the Justice Department announced its investigation in early January, Sherman said, “Look, there are a lot of federal buildings being built. Trump has no idea how efficiently they are being built. Nobody believes this is related to the testimony before the Senate committee.”
“This is outrageous,” he added.
Federal Reserve Chairman Jerome Powell arrives at the US Federal Reserve in Washington on January 13, 2026. (Nathan Howard/Reuters)
CLICK TO DOWNLOAD FOX NEWS APPLICATION
At the time, Tillis similarly condemned the Justice Department investigation and vowed to block any new nominations for the Fed chair until the administration dropped that investigation.
Tillis said, “Protecting the independence of the Federal Reserve from political interference or legal pressure is non-negotiable. My position has not changed.” he said.
