Senator Tillis Says He'll Still Block Any Fed Nominee

Summary

Senator Thom Tillis tells Bloomberg Surveillance that he will continue blocking any Federal Reserve nominee, including the Fed chair, until the Powell and Cook cases are resolved. He frames the fights as an effort to protect Fed independence and signal markets and the business community that political interference will not be rewarded.

• Tillis says he is focused on defending Fed independence.
• He links the Powell and Cook cases to attempts to undermine the Fed.
• He requires both the DOJ investigation and Supreme Court case to be resolved.
• Tillis says he will not move forward on a Fed chair nominee while the Powell case is pending.
• He calls the Cook matter a paperwork error and politically motivated.
• He argues the Senate must stand against bad behavior targeting the Fed.