GOP Senators Cast Doubt on Powell Probe, Hope to Move Warsh Along

• Senators are casting doubt on the severity of the Justice Department's investigation into Federal Reserve Chair Jerome Powell, with some not viewing the issues as criminal.
• Senator Thom Tillis plans to oppose any new Fed board confirmations until the investigation is concluded, creating potential delays for future appointments.
• The discussion highlights uncertainty around Fed leadership and the nomination process for key positions, including a potential new Chair like Mr. Warsh.

Republican Senators on the Senate Banking Committee are expressing doubts about the Justice Department's investigation into Federal Reserve Chair Jerome Powell, with some hoping for a swift resolution. Senator Thom Tillis stated he would oppose any new Fed board confirmations until the probe is complete, potentially delaying the nomination of a new Chair like Mr. Warsh. While some senators criticized Powell's preparedness on cost overruns, they generally did not view the issues as criminal.