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Senator Blocks Fed Nominee Amid Powell Probe Concerns

2/16/2026

29 3 Full Breakdown

Summary

Story summary

Senator Thom Tillis (R-N.C.) blocks any Federal Reserve nominee, including Kevin Warsh, pending a DOJ probe of Jerome Powell.
Tillis argues the probe threatens the Fed's independence and could have severe economic repercussions.
The Senate Banking Committee will hear Warsh, and the White House has not yet submitted his nomination.
Treasury Secretary Scott Bessent emphasized the urgency, noting Powell's term ends mid-May 2025.

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Story summary

Senator Thom Tillis (R-N.C.) blocks any Federal Reserve nominee, including Kevin Warsh, pending a DOJ probe of Jerome Powell.
Tillis argues the probe threatens the Fed's independence and could have severe economic repercussions.
The Senate Banking Committee will hear Warsh, and the White House has not yet submitted his nomination.
Treasury Secretary Scott Bessent emphasized the urgency, noting Powell's term ends mid-May 2025.