Republican Sen. Thom Tillis vows to block Trump's Fed nominees following Powell probe

• Tillis's opposition on the 13-11 Republican-majority Banking Committee creates a potential stalemate for confirming any Fed nominees, complicating Trump's plans to appoint a new chair.
• The DOJ investigation is being conducted by U.S. Attorney Jeanine Pirro, a Trump confidant and former Fox News host, raising concerns about Fed independence and politicization of the Justice Department.
• Powell can remain as a Fed governor until 2028 even after his chair term ends in May, though he has not indicated whether he plans to do so.

Summary: Republican Senator Blocks Trump's Fed Nominees Amid Powell Investigation

Key Development: Republican Senator Thom Tillis (R-N.C.) announced he will block all Trump Federal Reserve appointees, including the Fed Chair nominee, following revelations that the Justice Department is investigating current Fed Chair Jerome Powell for potential perjury charges.

Political Impact: Tillis's opposition creates a significant obstacle for Trump's Fed nominations. As a member of the Senate Banking Committee, which has a 13-12 Republican majority, his single defection creates a potential stalemate on confirmations. Tillis has previously broken with Trump, including voting against the One Big Beautiful Bill spending package.

Investigation Details: U.S. Attorney Jeanine Pirro, a Trump confidant and former Fox News host, is leading the perjury investigation. Powell responded Sunday, acknowledging the probe while characterizing it as a pretext to give Trump control over the Fed, stating it reflects "the administration's threats and ongoing pressure."

Timeline and Vacancies: Powell's term as Fed Chair expires in May 2026, though he can remain as a governor until 2028. He has not indicated his intentions. Additional vacancies include Stephen Miran's term ending in January, with potential retirements anticipated, particularly Vice Chair Philip Jefferson. Trump indicated he will nominate a new chair this month from a shortlist of five candidates.

Bipartisan Concerns: Senator Elizabeth Warren (D-Mass.) joined criticism, accusing Trump of seeking a "sock puppet" Fed chair to manipulate interest rates. Both senators urged the Senate to halt all Fed nominations until the matter is resolved, citing concerns about Federal Reserve independence and Justice Department credibility.