North Carolina Senator Thom Tillis says he’s ready to support a new face at the Federal Reserve—but a criminal investigation is standing in the way.
In a statement Wednesday, Tillis praised Fed Chair nominee Kevin Warsh following a face-to-face meeting, calling his credentials "impeccable." However, Tillis says he cannot vote to confirm Warsh until the Department of Justice concludes an investigation into current Chairman Jerome Powell.
The Senator says he is seeking "clarification" from the courts, pointing out that seven of his fellow Republicans on the Banking Committee believe no crime was ever committed.
Tillis is calling for a quick resolution to the legal drama, hoping to have Warsh installed in the critical role by May.