GOP Senators Cast Doubt on Powell Probe, Hope to Move Warsh Along

Summary

Bloomberg's Tyler Kendall spoke with Republican senators on Capitol Hill about the Justice Department's investigation into Federal Reserve Chair Jerome Powell. Senator Thom Tillis said he will oppose any Trump Fed chair nominee until the probe is over, while other senators said they saw no evidence of perjury and want the investigation wrapped up quickly. The remarks point to a potentially drawn-out Fed leadership transition and continued scrutiny of Powell.

• Senate Republicans cast doubt on the DOJ investigation into Fed Chair Powell.
• Thom Tillis vows to oppose any Trump Fed chair nominee until the probe ends.
• Tillis says he would make the introduction for Warsh after the investigation concludes.
• Other senators say they saw nothing resembling perjury in Powell's testimony.
• Lawmakers criticized Powell's handling of Fed building cost overruns.
• Senators urged the investigation to be wrapped up quickly.
• The dispute could delay confirmation of the next Fed chair.