Sen. Thom Tillis, R-N.C., said he will oppose Trump’s next pick to chair the Federal Reserve until the administration ends its probe of Jerome Powell. (Tom Williams/CQ Roll Call, Inc. via Getty Images)
"I will oppose the confirmation of any Federal Reserve nominee, including for the position of Chairman, until the DOJ’s inquiry into Chairman Powell is fully and transparently resolved."
Powell, who has led the Fed since Trump nominated him to the post in 2017, is under investigation by the DOJ for his management of a $2.5 billion renovation of the Fed’s headquarters and statements he made under oath before the Senate about its construction.
The Trump administration is investigating whether Powell knowingly misled lawmakers about the project’s length and expenses.
Although the investigation formally has nothing to do with Powell’s responsibilities as Fed chair, a bipartisan group of lawmakers has interpreted the probe as a way for Trump to put pressure on Powell to cut interest rates.
Federal Reserve Chair Jerome Powell arrives at the U.S. Federal Reserve in Washington on Jan. 13, 2026. (Nathan Howard/Reuters)
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At the time, Tillis similarly condemned the DOJ probe and promised to block any new nomination for the Fed chair position until the administration dropped that probe.
"Protecting the independence of the Federal Reserve from political interference or legal intimidation is non-negotiable. My position has not changed," Tillis said.
Leo Briceno is a politics reporter for the congressional team at Fox News Digital. He was previously a reporter with World Magazine.
https://www.foxnews.com/politics/gop-senator-vows-block-trumps-fed-chair-pick-unless-powell-probe-dropped