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Tillis Rejects DOJ Probe Transfer, Upholds Fed Independence

2/13/2026

Summary

Story summary

Sen. Thom Tillis (R-N.C.) rejected a proposal to transfer the Department of Justice's investigation of Federal Reserve Chair Jerome Powell to Senate Banking Committee.
Plan would have ended the probe and enabled Kevin Warsh's confirmation as Powell's successor.
Tillis said, "We can't finesse this," citing the need for an independent Federal Reserve.
Treasury Secretary Scott Bessent suggested the Senate Banking Committee could investigate Powell in a closed-door meeting with Republicans.

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Story summary

Sen. Thom Tillis (R-N.C.) rejected a proposal to transfer the Department of Justice's investigation of Federal Reserve Chair Jerome Powell to Senate Banking Committee.
Plan would have ended the probe and enabled Kevin Warsh's confirmation as Powell's successor.
Tillis said, "We can't finesse this," citing the need for an independent Federal Reserve.
Treasury Secretary Scott Bessent suggested the Senate Banking Committee could investigate Powell in a closed-door meeting with Republicans.