Tillis Rejects Idea for Clearing Path to Warsh Fed Confirmation

Republican Senator Thom Tillis rejected a suggestion that the Senate Banking Committee conduct its own investigation into Federal Reserve Chair Jerome Powell to supplant a probe by the Justice Department and clear the way for the committee to approve President Donald Trump’s new pick to lead the central bank.

Tillis, who views the DOJ investigation as an attack on the Fed’s independence, has vowed to hold up any Fed nominees until that probe is resolved. That could block Kevin Warsh, Trump’s selection to succeed Powell, from getting a confirmation vote before the full Senate.

“We have to have an ...