Overview
- Sen. Thom Tillis says he will withhold his Banking Committee vote unless prosecutors drop the investigation into Jerome Powell, blocking Kevin Warsh’s path forward.
- Under the current numbers, his stance would likely split the committee and stop the nomination at the panel stage.
- The Senate Banking Committee has set a confirmation hearing for April 21, and a full Senate vote can only happen if the panel advances the pick.
- The Justice Department inquiry, led by DC U.S. Attorney Jeanine Pirro, focuses on cost overruns at the Fed’s headquarters and Powell’s testimony about the project.
- Powell says he will serve as interim chair after May 15 if no successor is confirmed, and President Trump says he would fire him, raising the risk of a court fight.