US senator to support Warsh for Fed chair after DOJ ends Powell probe

U.S. Republican Senator Thom Tillis has withdrawn his opposition to the confirmation of Kevin Warsh as Federal Reserve Chairman, Cointelegraph reported. In a post on X, Tillis explained that he will now support Warsh's confirmation after confirming that the U.S. Department of Justice (DOJ) has concluded its roughly three-month investigation into Chairman Jerome Powell. The senator added that the investigation was a matter that could have undermined the Fed's independence and that his support was contingent on the issue being resolved.