Sen. Thom Tillis, R-N.C., said Sunday he will vote to confirm Kevin Warsh as the next Federal Reserve chair, lifting a months-long hold he placed on the nomination after the Justice Department closed its criminal investigation of Fed Chair Jerome Powell.
Tillis, a Banking Committee member who is not seeking reelection in 2026, told NBC's "Meet the Press" that the Justice Department had assured him the probe was "completely and fully ended" and that a pending appeal would not serve as a basis to reopen it.
The senator had said for months he would block any Fed nominee until the inquiry was resolved, calling it a tool to force Powell out before his term as chair expires May 15.
The hold dates to January, when Powell publicly disclosed that U.S. Attorney for the District of Columbia Jeanine Pirro had served the Fed with grand jury subpoenas tied to cost overruns on the central bank's headquarters renovation, which rose from an initial estimate of about $1.9 billion to roughly $2.5 billion.
Powell called the move a pretext for political pressure on monetary policy. Tillis announced his block almost immediately.
In March, U.S. District Judge James Boasberg quashed the subpoenas, finding the government had presented no evidence of fraud and that the dominant purpose of the subpoenas was to pressure Powell to lower interest rates or resign. Boasberg refused to reconsider on April 3, and the Justice Department appealed.
On Friday, Pirro announced she was closing the probe and asking the Fed's inspector general to scrutinize the renovation, while warning she would "not hesitate to restart a criminal investigation should the facts warrant doing so."
Tillis said the appeal is limited to challenging the legal basis for the subpoena ruling and could not be used to revive the underlying inquiry.
He added that the only way the case could be reopened would be a criminal referral from the Fed's inspector general, whom he described as one of the most respected in government.
He said his concern from the start was that prosecutors in Washington were using the case as leverage to push Powell out early.
Asked whether Warsh would act independently of President Donald Trump, who has publicly demanded faster rate cuts, Tillis said he expected the nominee to clash with the White House at times.
"I wouldn't be surprised if the president doesn't get annoyed with him once or twice," he said.
"I am prepared to move on with the confirmation of Mr. Kevin Warsh. I think he will be a great Fed chair," he added.
He noted the Federal Open Market Committee operates by consensus among 12 voting members.
"You have to get a majority of it, and you get a supermajority," he said.
"Kevin is going to go in there with a great reputation, with past experience, with relationships, I think as many as five prior Fed chair boards, he's going to have to work on getting consensus."
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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