Warsh's Fed Nomination Changes Nothing, Says Senator Tillis

Summary

Senator Thom Tillis discusses Kevin Warsh's nomination to lead the Federal Reserve, saying it does not change his position that the DOJ investigation into Chair Jerome Powell must end before he will approve any Fed nominee. He also says the Lisa Cook case and the Powell matter undermine confidence in Fed independence and must be resolved. Tillis describes Warsh as qualified and independent but offers no specific market or security recommendation.

• Kevin Warsh has been nominated to succeed Jerome Powell as Federal Reserve chair.
• Senator Thom Tillis calls the Powell criminal investigation frivolous and says it must end before he approves any Fed nominee.
• Tillis also wants the Lisa Cook Supreme Court case resolved before considering Fed board nominees.
• He says both cases undermine confidence in Federal Reserve independence.
• Tillis believes Warsh is qualified, well-regarded, and unlikely to do the administration's bidding.
• He says the Fed would still have a working quorum if Powell steps away.
• The interview is focused on political and confirmation process issues, not explicit trade recommendations.