Tillis maintains blockade on Fed pick Warsh over Powell probe
There is nothing that Federal Reserve chair nominee Kevin Warsh could say to get Sen. Thom Tillis to end his blockade on Warsh’s confirmation, the North Carolina Republican said Tuesday. Tillis has vowed not to vote for any Fed nominees, including Warsh, until a criminal investigation into Fed Chair Jerome Powell is resolved. Powell, who denies any wrongdoing, has said he is really being targeted for his refusal to cut interest rates as broadly and as quickly as demanded by President Donald Trump. “No, no,” Tillis told reporters at the U.S. Capitol, when asked if Warsh could tell him anything at their meeting later in the day to change the senator’s position on blocking a full Senate vote on the nomination. “This is not about people, it’s about process,” Tillis said. “I think this is a foul.” After the meeting, Tillis told reporters that he would vote against advancing Warsh’s nomination from the Banking Committee if the Powell probe is not finished by then. “This is about this is bedrock principle of Fed independence,” the …
