Powell Probe Just a 'Flex,' Say Senator Tillis

• Senator Tillis will not approve any Fed board nominee until the Justice Department probe into the Fed's renovations is settled.
• He believes the investigation was a 'flex' to pressure current Fed Chair Jerome Powell to step aside.
• Tillis argues that the investigation lacks sufficient evidence and was initiated without proper referral from the committee.

Senator Thom Tillis states he will block future Federal Reserve board nominations until a Justice Department probe into the Fed's renovations is resolved. He views the investigation as a politically motivated 'flex' to remove the current Fed Chair, Jerome Powell, and emphasizes the importance of Fed independence. This creates uncertainty regarding future Fed leadership.