Tillis Clears Path for Warsh's Fed Chair Confirmation

Senator Thom Tillis of North Carolina announced Sunday he will vote to confirm Kevin Warsh as the next Federal Reserve chair, ending his blockade that had derailed the nomination.[1][2] Tillis, a key swing vote on the Senate Banking Committee, cited assurances from the Department of Justice that its investigation into Fed Chair Jerome Powell is 'completely and fully ended.'[1][2] The DOJ dropped the case Friday, resolving Tillis's primary concern over potential subpoenas tied to a ruling by Judge James Boasberg.[1] In a statement, Tillis wrote he takes the DOJ 'at its word: the investigation is closed, and any appeal of Judge Boasberg's ruling will be with respect to legal principles and not for the purpose of reissuing subpoenas.'[1] He reiterated this during an NBC 'Meet the Press' interview, noting multiple discussions with DOJ officials that satisfied his demands.[1] The development follows President Donald Trump's nomination of Warsh, a former Fed governor from 2006 to 2011 known for advocating tighter monetary policy during the financial crisis.[2] The Senate Banking Committee, chaired by Sen. Tim Scott, R-S.C., is scheduled to advance Warsh's nomination Wednesday, positioning it for a full Senate vote potentially by week's end.[1] Tillis's support provides the decisive vote in the closely divided panel, which holds a slim Republican majority.[1] Warsh, 55, left Stanford's Hoover Institution to pursue the role, bringing experience from his time critiquing Powell's inflation management.[2] The shift comes as inflation lingers above the Fed's 2% target and markets eye rate cuts. Warsh has signaled support for normalizing rates faster than Powell's gradual approach, potentially influencing trillion-dollar bond markets and stock valuations.[2] Confirmation would mark Trump's second attempt to install a preferred Fed leader after prior nominees faltered.