Yellen's Nomination for Fed Chair is Blocked, Republican Senators Demand Investigation into Powell First

**March 11** Kevin Warsh, President Trump’s nominee for Federal Reserve Chair, has yet to clear a key hurdle in his Senate confirmation process. Republican Senator Thom Tillis says he will continue blocking the Senate Banking Committee from advancing any Fed personnel nominations until the Justice Department wraps up its investigation into current Fed Chair Jerome Powell. Tillis called his meeting with Warsh “pleasant” and noted his professional qualifications. He stressed, however, that the move is not personal toward Warsh but aimed at upholding Fed independence. “If markets believe the Fed chair is merely acting at the president’s behest,” he said, “it could harm financial markets.” With Republicans holding narrow majorities in the full Senate and the Banking Committee, Tillis’s opposition could stall Warsh’s nomination from reaching a floor vote. Warsh is currently actively meeting with lawmakers to rally support, but uncertainty lingers over whether he can secure confirmation before Powell’s term expires in May.