A Republican senator still has reserves on Kevin Warsh's nomination to lead the Fed

Republican Senator Thom Tillis said he would not lift his opposition to Kevin Warsh's nomination as chairman of the Federal Reserve. Speaking to reporters at the Capitol, the North Carolina lawmaker said no statement from the nominee could change his position, even during their meeting scheduled for later in the day. He said that his refusal was not directed at Warsh personally but at the process surrounding the nomination.

Tillis explained that he would not vote for any Fed nominee until a criminal investigation targeting the institution's current chair, Jerome Powell, is resolved. According to Powell, the investigation by the Washington federal prosecutor's office is politically motivated. He says he is being targeted for refusing to cut interest rates as quickly and as sharply as US President Donald Trump wanted.

Despite his current opposition, the senator said he had a favorable view of Kevin Warsh and was impressed by his skills. He added that he has known Warsh's work for a long time and regretted that he could not back his nomination until questions tied to the investigation involving Jerome Powell are clarified.