Tillis supports Warsh's Fed confirmation after Powell probe ends
Senator Thom Tillis has announced his support for Kevin Warsh's confirmation to the Federal Reserve. This follows the Justice Department's decision to close its investigation into Jerome Powell. (sources: marketwatch, cbsnews, axios, usatoday, ft)
The Justice Department has ended its investigation into Federal Reserve Chair Jerome Powell, which has cleared a path for Kevin Warsh's confirmation. Senator Thom Tillis has expressed his support for Warsh's appointment.
- The Justice Department concluded its investigation into Jerome Powell.
- Senator Thom Tillis will support Kevin Warsh's confirmation to the Federal Reserve.
- Warsh is nominated by President Donald Trump for the Fed chair position.
Why it matters
The outcome of Warsh's confirmation could influence the Federal Reserve's policies and direction.
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3 bills on this issue are moving right now — and the most active one is A bill to require Presidential appointment and Senate confirmation of the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection..
S1627 · 119th Congress
A bill to require Presidential appointment and Senate confirmation of the Inspector General of the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection.
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About this bill
What S1627 actually does
This story is about Sen. Thom Tillis drops opposition, says he'll back Kevin Warsh's Fed confirmation. This bill would require the Fed’s Inspector General to be presidentially appointed and Senate-confirmed.
If passed, it would:
- Require the Fed’s Inspector General to be presidentially appointed and Senate-confirmed • Apply the same appointment/confirmation requirement to the CFPB Inspector General.
2 other bills moving on this issue
Take action on any of them individually.
This story is about Sen. Thom Tillis drops opposition, says he'll back Kevin Warsh's Fed confirmation. This bill would require a GAO audit of the Federal Reserve Board and Federal Reserve banks within 12 months of enactment.
If passed, it would
- Require a GAO audit of the Federal Reserve Board and Federal Reserve banks within 12 months of enactment • Expand GAO audit authority into areas Congress has historically limited (including monetary-policy-related matters.
This story is about Sen. Tillis dropping opposition and saying he will back Kevin Warsh's confirmation to the Federal Reserve. This bill would change how the Federal Reserve funds regulatory work by requiring congressional approval of non-monetary regulatory budgets and funding supervision via fees set after Congress approves spending.
If passed, it would
- Requires Congress to set and approve Fed regulatory budgets before fees are charged • Shifts funding for bank supervision to fees from banks after congressional approval.
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