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Home/Briefs/central bank independence

BriefApril 17, 2026 · 10:35 AM

Criminal probe into Federal Reserve renovation blocks Senate confirmation of Kevin Warsh

Kevin Warsh cannot be confirmed as Federal Reserve Chair as long as Senator Thom Tillis blocks the nomination. Tillis has threatened to block Warsh unless the Trump administration drops a criminal investigation into Jerome Powell regarding cost overruns on the Federal Reserve building renovation. Donald Trump has refused to drop the probe, stating, “Don’t you think we have to find out what happened there?” Jerome Powell plans to remain in office until Warsh is confirmed, but his term expires on May 15. Trump has threatened to fire Powell if he does not leave by that date.

Harper Whitfield

Central Bank IndependenceFederal Reserve AppointmentsSenate Confirmation

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