"I wanted to shut it down before the markets opened. The signal the probe sent was that the Fed in general - and its chair specifically - would be subject to the whims of any president."
"Honestly, I talk to a lot of people in the industry, almost daily, and I haven't heard anybody saying I got it wrong. I think a lot of them are appreciative that someone was standing in the breach."
Thom Tillis, a retiring Republican senator, is blocking Donald Trump's nomination of Kevin Warsh for Federal Reserve chair to uphold the independence of the Fed and ensure market stability. Tillis views the Justice Department's investigation into Jerome Powell as a threat to the Fed's autonomy, fearing it could negatively impact financial markets. He believes that Warsh would perform well but prioritizes the integrity of the central bank over the nomination. Tillis has received support from some colleagues but cautions against their involvement in his blockade.
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