GOP senator promises to block all Trump Federal Reserve nominees after ‘outrageous’ DOJ probe into Jerome Powell

Senator Thom Tillis, R-N.C., just threw down the gauntlet, promising he will oppose every single Federal Reserve nominee proposed by the Trump administration until the Department of Justice completely ends its probe into current Fed Chairman Jerome Powell. Tillis, who has a history of clashing with the administration and isn’t seeking re-election, announced via X that he would specifically block the confirmation of Kevin Warsh.

This isn’t about Warsh’s qualifications. Tillis noted that Warsh was incredibly qualified with a great understanding of monetary policy. However, the senator explained that his decision is based entirely on the principle of the matter. Tillis stated, “The Department of Justice continues to pursue a criminal investigation into Chairman Jerome Powell based on committee testimony that no reasonable person could construe as possessing criminal intent.” 

Fox News reported that Tillis made it crystal clear where he stands: “I will oppose the confirmation of any Federal Reserve nominee, including for the position of Chairman, until the DOJ’s inquiry into Chairman Powell is fully and transparently resolved.”

For him, it is simple about justice

You have to wonder what exactly the DOJ is investigating Powell for. The official reason centers on the chairman’s management of a massive $2.5 billion renovation of the Fed’s headquarters and statements he made under oath before the Senate regarding the project’s construction. The Trump administration is investigating whether Powell knowingly misled lawmakers about how long the project would take and what the final expenses would be.

The investigation, formally, has nothing to do with Powell’s actual job responsibilities as the head of the Fed. However, plenty of lawmakers, both Republicans and Democrats, see this probe as an obvious attempt by President Trump to put immense pressure on Powell to cut interest rates.

President Trump has repeatedly and publicly called for the Fed to slash rates. Powell, however, has consistently resisted these demands, citing the absolute need for the agency to protect its independent operations, separate from the political goals of any given administration. The Federal Reserve is responsible for maintaining U.S. financial stability by managing the country’s money supply and credit conditions. 

This perceived political interference is exactly what’s driving Tillis’s opposition. He feels strongly that protecting the independence of the Federal Reserve from political pressure or legal intimidation is “non-negotiable.” His position, he says, hasn’t changed since he first condemned the investigation when it was announced earlier in January. 

It’s not just Republicans who are crying foul, as more members of the GOP are beginning to criticize the administration. Rep. Brad Sherman, D-Calif., a Democrat on the House Financial Services Committee, called the situation outrageous, pointing out: “Look, there are lots of federal buildings being built. Trump doesn’t have an opinion on how efficiently they’re being built. Nobody believes that this is about testimony before the Senate committee.”