U.S. Senator Thom Tillis (R-N.C.) announced Sunday morning that he is officially moving forward with the confirmation of Kevin Warsh to lead the Federal Reserve.
The decision follows months of friction and a personal pledge from Tillis to block any successor to Jerome Powell until the Department of Justice dropped its investigation into the current Fed Chair.
Appearing on NBC’s “Meet the Press,” Tillis told moderator Kristen Welker that he is now a “yes” vote for Warsh. The shift comes after the DOJ announced Friday it was closing its investigation into Powell, a move Tillis said was necessary to protect the independence of the central bank.
While U.S. Attorney Jeanine Pirro and Acting Attorney General Todd Blanche suggested the door could remain open if new facts emerged, Tillis said he received private assurances that the current matter is fully settled.
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“I have been assured by the Department of Justice that that appeal is simply to challenge the basis for judging on the motion to quash the subpoenas,” Tillis said during the interview. “It would not in any way constitute a basis for reopening the investigation.”
Tillis had previously expressed concern that the investigation was being used as a “lever” to force Powell out of his position early. He noted that if the investigation had never occurred, Warsh likely would have been confirmed by May 15. With the legal clouds clearing, Tillis said his primary concern—the “weaponization” of the DOJ against the Fed—has been addressed.
“I am prepared to move on with the confirmation of Mr. Warsh. I think he’s going to be a great Fed Chair,” Tillis said. He added that his office worked through the weekend to verify the DOJ’s stance before going public with his support.
When questioned about Warsh’s ability to remain independent of the White House, Tillis pointed to the structure of the Federal Reserve itself. He described the Fed as a “consensus-building body” where no single person holds total control.
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Tillis remarked that Warsh has the experience and relationships necessary to navigate the role, even if it means clashing with the administration. “I wouldn’t be surprised if the president doesn’t get annoyed with him once or twice,” Tillis noted.
The Senator emphasized that maintaining the “gold standard” of the U.S. financial system required ensuring the Fed remained free from political interference.
As for Powell, Tillis suggested the current Chair may wait for the final results of the legal appeals process before making any long-term decisions about his seat on the board, which does not expire until 2028. For now, however, the path for Kevin Warsh to take the helm appears clear.
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