Senator Tillis Opposes Upcoming Fed Chair Nominee Over DOJ Subpoenas, Blasts Trump's 'Push' To Control Central Bank

Benzinga_recent_news01-12

Senator Thom Tillis (R-NC) pledged Sunday to block the confirmation of any future Federal Reserve nominees, including the next Fed Chair, escalating a high-stakes showdown over the Donald Trump ...

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Tillis opposes the next Fed Chair nominee over DOJ subpoenas, blasting the Trump administration's push to control Fed independence.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UPRO":"三倍做多标普500ETF-ProShares","BK4559":"巴菲特持仓","BK4504":"桥水持仓","BK4588":"碎股","BK4550":"红杉资本持仓","SPXU":"三倍做空标普500ETF-ProShares","OEX":"标普100","BK4561":"索罗斯持仓","WFC":"富国银行","BK4581":"高盛持仓","BK4096":"电气部件与设备","SH":"做空标普500-Proshares","BK4585":"ETF&股票定投概念","QQQ":"纳指100ETF","BK4534":"瑞士信贷持仓","POWL":"Powell Industries",".SPX":"S&P 500 Index","IVV":"标普500ETF-iShares","SDS":"两倍做空标普500 ETF-ProShares","OEF":"标普100指数ETF-iShares","BK4593":"纳斯达克ETF","SSO":"2倍做多标普500ETF-ProShares","SPY":"标普500ETF"},"translate_title":"参议员蒂利斯反对即将任命的美联储主席提名人司法部传票，抨击特朗普“推动”控制央行","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UPRO":0.6,"WFC":1.54,"SSO":0.6,".SPX":1.61,"SPY":1.61,"POWL":0.81,"OEF":0.6,"QQQ":1.61,"IVV":0.6,"SDS":0.6,"SH":0.6,"MESmain":0.6,"SPXU":0.6,"OEX":0.6,"ESmain":0.6},"content_text":"Senator Thom Tillis (R-NC) pledged Sunday to block the confirmation of any future Federal Reserve nominees, including the next Fed Chair, escalating a high-stakes showdown over the Donald Trump administration's legal threats against the central bank.\nIn a statement released on X, Senator Tillis drew a hard line against what he described as an active push by administration advisers “to end the independence of the Federal Reserve.”\nTillis announced he would “oppose the confirmation of any nominee for the Fed—including the upcoming Fed Chair vacancy—until this legal matter is fully resolved.” The senator’s ultimatum follows the Department of Justice serving grand jury subpoenas to the Federal Reserve on Friday.\nThe subpoenas threaten a criminal indictment related to Chair Jerome Powell's testimony last summer regarding a multi-year renovation project of the Fed's historic office buildings. Tillis argued that these actions have placed the “independence and credibility of the Department of Justice” in question.\nFederal Reserve Chair Powell pushed back aggressively in a video statement released Sunday evening. While acknowledging that “no one… is above the law,” Powell characterized the threat of indictment as “unprecedented action” that must be viewed in the context of “ongoing pressure” from the White House.\nPowell dismissed the focus on his previous testimony and building renovations as mere “pretexts.”\n“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said.\nThe confrontation marks a critical juncture for U.S. monetary policy. Powell warned that the conflict is fundamentally about whether the Fed will operate based on “evidence and economic conditions” or succumb to “political pressure or intimidation.”\nAsserting his intent to remain in office, Powell stated he would continue to serve with “integrity and a commitment to serving the American people” despite the mounting threats.\nWith Tillis now leveraging the Senate’s confirmation power to defend the central bank, the administration faces a significant legislative hurdle in its efforts to reshape the Fed’s leadership.\nThe CME Group's FedWatch tool‘s projections show markets pricing a 95% likelihood of the Federal Reserve leaving the current interest rates unchanged in January.\nThe SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, closed higher on Friday. The SPY was up 0.66% at $694.07, while the QQQ advanced 1.00% to $626.70, according to Benzinga Pro data.\nThe futures of the S&P 500, Nasdaq 100, and Dow Jones indices were trading lower on Monday.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto Courtesy: MDart10 on Shutterstock.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2602596392","isCrawlerRequest":true}