Wass's nomination for Federal Reserve Chair is blocked, with Republican senators demanding an investigation into Powell first

MarsBitNews · 2026-03-11T01:26:18+00:00

The Fed Chair candidate nominated by U.S. President Trump, Kevin Warsh, faces resistance in Congress as he seeks support. Senator Thom Tillis stated he will block any personnel nominations until the investigation into current Chair Powell is concluded. While acknowledging Warsh's capabilities, Tillis emphasized that this move is to protect the independence of the Federal Reserve and opposes any actions that could impact financial markets. Warsh is actively seeking support, but whether he can be confirmed in time remains uncertain.

MarsBitNews

2026-03-11 01:26:18

Abstract generation in progress

Breaking News from Mars Finance: On March 11, President Trump’s nominee for Federal Reserve Chair, Kevin Warsh, still has not overcome key resistance in his efforts to gain support in Congress. Republican Senator Thom Tillis stated that he will continue to block any Fed nominations from advancing in the Senate Banking Committee until the Department of Justice concludes its investigation into current Fed Chair Jerome Powell.

Tillis described his meeting with Warsh as “pleasant” and acknowledged his professionalism, but emphasized that the meeting was not personal against Warsh. Instead, it was to protect the independence of the Federal Reserve. He warned that if markets believe the Fed Chair is merely acting in accordance with the President’s wishes, it could negatively impact financial markets.

Given the narrow Republican majority in the Senate and the Banking Committee, Tillis’s opposition could hinder Warsh’s nomination from moving to a full Senate vote. Warsh is currently meeting with lawmakers intensively to garner support, but it remains uncertain whether he can secure confirmation before Powell’s term ends in May.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes