Republican North Carolina Sen. Thom Tillis said Sunday he would back down from opposing President Donald Trump’s nominee to replace Federal Reserve Chairman Jerome Powell.
Tillis previously announced he would oppose any of Trump’s picks for the Federal Reserve after the Department of Justice opened a probe into the renovation of the Federal Reserve headquarters in Washington, placing the nomination of Kevin Warsh in jeopardy. Tillis was later asked about reports that U.S. Attorney for the District of Columbia Jeanine Pirro closed the investigation.
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“I am prepared and, with the assurances from the Department of Justice that the case is completely and fully settled, that the appeal would only be used to potentially abrogate or change the ruling for administrative purposes, not as a basis for reopening the investigation, and that the only way an investigation would be open would be a criminal referral from one of the most respected inspector generals there,” Tillis told “Meet the Press host Kristen Welker. “I am prepared to move on with the confirmation of Mr. Warsh. I think he’s going to be a great Fed chair.”
Trump questioned Powell over the renovations during a July 24 tour of the Federal Reserve headquarters with Republican South Carolina Sen. Tim Scott, presenting Powell with documents supposedly showing the cost for the project had ballooned to $3.1 billion, a cost overrun of roughly 25%.
Republican Florida Rep. Anna Paulina Luna referred Powell to the Justice Department in July, alleging he lied to the Senate Banking Committee about the headquarters’s renovations in June 2025.
Trump and Powell have clashed over the Fed’s failure to lower interest rates at a pace desired by the president.
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