Republican Senator Thom Tillis, who previously threatened to obstruct the next Federal Reserve Chair nomination, stated on Tuesday that he fully supports Kevin Warsh for the position. Tillis remarked, "History shows that if a chair believes they can unilaterally control all matters after being appointed by the president, they will not perform well. You have served under several excellent predecessors, and I trust you will adhere to your duties and perform correctly."
However, he attached a condition: unless the U.S. Department of Justice terminates the criminal investigation into current Fed Chair Jerome Powell, he will not allow Warsh's nomination to proceed. The investigation stems from matters related to the multi-billion-dollar headquarters renovation project of the Federal Reserve.
For Warsh's nomination to advance to a full Senate vote, it must first secure a majority vote in the Senate Banking Committee. The committee comprises 13 Republican and 11 Democratic members. Without Tillis's support, the committee vote would result in a 12-12 tie, causing the nomination to fail immediately.
Discussing the investigation initiated by Washington D.C. Attorney Jeannie Rhee, Tillis stated, "My dissatisfaction lies with a federal prosecutor, based solely on personal conjecture, launching an investigation into Chair Powell just months before the position becomes vacant." He added, "Call off this investigation, and I will support your confirmation."
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