With Senator Thom Tillis’s support, the Senate Banking Committee is expected to advance Kevin Warsh’s nomination as the Fed Chair|Gage Skidmore|CC BY-SA 2.0
Republican Senator Thom Tillis has cleared the way for Kevin Warsh’s confirmation as Federal Reserve chief after the DOJ dropped its investigation into current Chair Jerome Powell.
Tillis had previously blocked Warsh’s confirmation until the probe against Powell existed. He called the Justice Department investigation “bogus,” viewing it as a threat to the Fed’s independence.
Now, with Tillis’ support, the Senate Banking Committee is expected to advance Warsh’s nomination to the full Senate on May 15, the last day of Fed Chair Powell’s leadership.
Warsh is expected to win confirmation despite unified Democratic opposition.