GOP Senator Blocking Warsh Makes His Stand on Market Stability

The one man blocking Donald Trump from installing Kevin Warsh as his new Federal Reserve chair has drawn a red line: the stability of the US financial markets.

Republican Thom Tillis, who will retire in January after two Senate terms, provided key backing for some of Trump’s most controversial nominees, including Defense Secretary Pete Hegseth and Director of National Intelligence Tulsi Gabbard.

But the 65-year-old former management consultant, who has close ties to his home-state banking industry in North Carolina, sees his standoff with the White House over Warsh’s nomination as a stand for Fed independence and, by ...