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GOP Sen. Thom Tillis says he's ready to advance confirmat...
Reuters · 2026-04-26 · via New York Post

Republican Senator Thom Tillis on Sunday said he would ​allow Senate confirmation of Federal Reserve chair nominee Kevin Warsh to go forward after the Department of Justice on Friday ‌dropped an investigation into Fed Chair Jerome Powell that Tillis viewed as a threat to the central bank’s political independence.

U.S. Senator Thom Tillis speaking to media with microphones in front of him.

Republican Senator Thom Tillis on Sunday said he would ​allow Senate confirmation of Federal Reserve chair nominee Kevin Warsh to go forward. REUTERS

“I am prepared to move on with the confirmation of Mr. Warsh,” Tillis, a Republican who represents North Carolina, said on ​NBC’s “Meet the Press.” “I think he’s going to be a great Fed chair.”

The decision ends months of limbo for Warsh and clears a path ​for his Senate confirmation by May 15, when Powell’s leadership term ends.

Powell disclosed in January that the DOJ ⁠had opened a criminal investigation into his management of a $2.5 billion renovation of two Fed buildings in Washington. In a blunt video released on ​a Sunday evening, Powell called it intimidation and part of the Trump administration’s attempts to pressure the Fed into cutting interest rates.

A federal judge in ​March blocked the DOJ’s subpoenas, finding they were issued for the improper purpose of getting Powell to lower rates or resign. U.S. Attorney Jeanine Pirro said she would appeal and just last week signaled publicly she would press on with the investigation.

On Friday, however, she said on X that she was ending it and would ask ​the Fed’s own inspector general, already months into its own review of the renovations, to take over.

Tillis’ objections had never been about Warsh himself, ​whom he described at his confirmation hearing on Tuesday as having “impeccable” credentials.

Senator Thom Tillis questioning Kevin Warsh during a confirmation hearing, with an NBC News banner reporting "Trump denies involvement in Fed subpoenas" in the background.

“I am prepared to move on with the confirmation of Mr. Warsh,” Tillis, a Republican who represents North Carolina, said.” “I think he’s going to be a great Fed chair.” ZUMAPRESS.com

Warsh, a Fed governor from 2006 to 2011, has promised to overhaul the Fed’s approach to ‌monetary policy ⁠and to cooperate more closely on non-monetary policy matters with the Treasury and other parts of government.

He told lawmakers at his hearing that Trump did not try to get him to promise to lower interest rates, though he also said he was not worried that tariffs were contributing to inflation, and suggested that Fed policymakers may be using measures of inflation that overestimate price pressures.

With Tillis’ support, the Senate Banking Committee’s Republicans now have the ​majority they need to outvote unified ​Democratic opposition and advance Warsh’s ⁠nomination to the full Senate, where Republicans are expected to confirm him.

Kevin Warsh testifying at a Senate Banking Committee confirmation hearing on Capitol Hill.

Kevin Warsh, U.S. President Donald Trump’s nominee to be the next chair of the Federal Reserve, testifies before a Senate Banking Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., April 21, 2026. REUTERS

With about three weeks to go before Powell’s chair term ends, during one of which the Senate is scheduled to be on recess, the timeline ​is tight. The Senate has only once before confirmed a Fed nominee in less than three weeks.

Powell has ​said he would ⁠serve as temporary chair should Warsh not be confirmed before May 15.