Tillis supports Warsh's Fed chair nomination after DOJ assurances
Senator Thom Tillis has announced his support for Kevin Warsh's nomination as chair of the Federal Reserve following reassurances from the Department of Justice. This marks a shift in Tillis's stance that had previously stalled the nomination process. (sources: thehill, fortune, reuters, nbcnews, cnbc)
Senator Tillis is now prepared to advance Kevin Warsh's nomination for Fed chair after the DOJ concluded its investigation into Jerome Powell. This change may facilitate Warsh's confirmation in the Senate.
- Tillis had previously opposed Warsh's nomination, causing delays in the Senate Banking Committee.
- The DOJ's investigation into Powell has concluded, prompting Tillis's support for Warsh.
- Warsh's nomination is now expected to move forward in the Senate.
Why it matters
The confirmation of Warsh as Fed chair could influence U.S. monetary policy and economic direction.
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2 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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What S1627 actually does
This story is about Tillis supports Warsh's Fed chair nomination after DOJ assurances. This bill would require the Fed Board IG to be appointed by the President and confirmed by the Senate.
If passed, it would:
- Require the Fed Board IG to be appointed by the President and confirmed by the Senate • Do the same for the CFPB IG.
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This story is about Tillis supports Warsh's Fed chair nomination after DOJ assurances. This bill would direct GAO to complete an audit of the Fed within 12 months of enactment.
If passed, it would
- Direct GAO to complete an audit of the Fed (Board and Reserve Banks) within 12 months of enactment • Allow GAO audits to cover areas that are currently restricted (including specified monetary-policy-related activities.
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