- Senator Thom Tillis has officially blocked the nomination from reaching the Senate floor until a criminal investigation into Jerome Powell is concluded
- The Department of Justice probe focuses on alleged cost overruns and potential false testimony regarding a 2.5 billion dollar renovation of the Federal Reserve headquarters
- Jerome Powell has confirmed he will remain as chair pro tem if the confirmation is not settled by May when his current term expires
- Market analysts warn that leadership uncertainty during the ongoing conflict with Iran is increasing volatility in energy and treasury markets
- President Trump continues to pressure the Fed for deeper interest rate cuts while critics label Warsh a potential rubber stamp for executive policy
Kevin Warsh nomination for Federal Reserve chair stalls as Senator Tillis demands investigation resolution
Mar 27, 2026, 3:27:39 PM UTC(5 hours ago)
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Affected Assets
Sources
From:@DeItaone
WARSH FED CONFIRMATION STALLED AMID IRAN WAR AND POWELL DISPUTE
Kevin Warsh’s nomination to replace Jerome Powell as Fed chair remains “at an impasse,” sources say. Sen. Thom Tillis won’t advance Warsh until the DOJ resolves its investigation into Powell’s $2.5B Fed renovation. Powell may stay on temporarily, potentially blocking Trump’s plans for lower rates. Wall Street fears heightened market volatility amid the Iran war if Fed leadership is uncertain. The White House pushes for swift confirmation, citing Warsh’s credentials, but Tillis remains firm, leaving the central bank’s future—and its response to rising inflation and energy shocks—in limbo.
