North Carolina Senator Thom Tillis said he will not endorse Warsh unless President Donald Trump's administration drops the controversial criminal investigation into current Federal Reserve Chair Jerome Powell, a threat that has prompted a number of central bankers to warn that the Fed's independence could be damaged in the long term.
Tillis describes Warsh as a qualified candidate for the job, with a good understanding of monetary policy, but he adds that the investigation into Powell lacks a legal basis and threatens the central bank's independence.
“My position has not changed,” the senator writes.
