Trending Now - Powell Engages Lawmakers Amid Controversy Over Fed Nominee
WHO:
Sen. Thom Tillis (R-N.C.) stated, "I have very few questions. I'm a real fan of [Warsh] and I'm hoping we can get disposed of the Powell investigation, so I'd be in a position to vote for him."
Sen. Cynthia Lummis (R-Wyoming) praised Warsh, stating, "I had an incredibly productive, thoughtful conversation today with Kevin Warsh."
President Donald Trump, Federal Reserve Chair Jerome Powell, Kevin Warsh (Trump's nominee), Sen. Thom Tillis (R-N.C.), Sen. Lisa Murkowski (R-Alaska), Sen. John Kennedy (R-Louisiana), Senate Banking Committee chair Tim Scott, Treasury Secretary Scott Bessent.
WHAT:
Sen. Thom Tillis has vowed not to vote for any Fed nominees, including Warsh, until the criminal investigation into Powell is resolved.
Tillis indicated he would vote against advancing Warsh's nomination from the Banking Committee if the Powell probe is not finished by then.
Trump nominated Kevin Warsh to succeed Jerome Powell as Federal Reserve Chair.
Sen. Thom Tillis is holding up Warsh's nomination until the investigation into Powell is resolved.
Powell confirmed on January 11, 2026, that the Justice Department opened a criminal investigation into his congressional testimony.
Powell had 13 calls with U.S. lawmakers in the week following his January 11 disclosure of the DOJ investigation.
Tillis vowed to block any Federal Reserve nominee until the DOJ probe involving Powell concludes.
WHERE:
Washington, D.C. (location of the Federal Reserve and congressional meetings).
WHEN:
Tillis spoke with reporters on March 10th, 2026.
Trump nominated Kevin Warsh in January 2026.
Powell's term as chair ends on May 15, 2026.
The DOJ investigation was disclosed on January 11, 2026.
The meetings between Powell and lawmakers occurred in the week following January 11, 2026.
WHY:
Tillis emphasized that his stance is about "process," stating, "This is not about people, it's about process."
Tillis wants the Powell investigation resolved before voting on Warsh's nomination.
Powell described the DOJ's subpoenas as "pretexts" for intensifying pressure from the Trump administration.
HOW:
The Senate Banking Committee must advance Fed nominees before the full Senate can confirm them, and Tillis's hold requires a discharge vote needing 60 votes to override.
The Senate Banking Committee must advance Fed nominees before the full Senate can confirm them.
Tillis's hold on Warsh's nomination requires a discharge vote on the Senate floor, needing 60 votes to override.
(UPDATED March 11, 2026 01:27 UTC)
Senator Thom Tillis has announced that he will not support any Federal Reserve nominees, including Kevin Warsh, until the criminal investigation into Powell is resolved, emphasizing that his stance is about "process" rather than individuals. During a conversation with reporters on March 10, Tillis indicated he would vote against advancing Warsh's nomination from the Banking Committee if the Powell probe is not completed by that time. Meanwhile, Senator Cynthia Lummis praised Warsh, describing their recent conversation as incredibly productive and thoughtful.
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(UPDATED March 10, 2026 19:23 UTC)
Today, President Trump nominated Kevin Warsh to succeed Jerome Powell as the Federal Reserve Chair, but Senator Thom Tillis is holding up that nomination until the ongoing investigation into Powell's congressional testimony is resolved. Powell confirmed earlier this year that the Justice Department opened a criminal investigation into him, which he described as a pretext for pressure from the Trump administration, and he had multiple calls with lawmakers in the week following the announcement. Tillis has vowed to block any Federal Reserve nominee until the investigation concludes, meaning that Warsh's nomination will require a discharge vote on the Senate floor, needing 60 votes to move forward.