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Republican Senator Thom Tillis has lifted his opposition to Kevin Warsh\u2019s nomination as Federal Reserve chair after a federal investigation into Jerome Powell concluded.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to a statement<\/a> shared by Tillis on X, the U.S. Department of Justice has wrapped up its three-month probe into Powell over the Federal Reserve\u2019s headquarters renovation, clearing a key hurdle that had stalled Warsh\u2019s path forward.<\/p>\n \u201cI have been clear from the start: the U.S. Attorney\u2019s Office criminal investigation into Chair Powell was a serious threat to the Fed\u2019s independence, and it needed to end before I could support Kevin Warsh\u2019s confirmation,\u201d Tillis said.\u00a0<\/p>\n \u201cI welcome the inspector general\u2019s investigation. This is a necessary and appropriate measure, and I have confidence it will be conducted thoroughly and professionally.\u201d<\/p>\n <\/p>\n Holding a seat on the Senate Banking Committee, Tillis had been in a position to delay the process through a procedural hold or by withholding support, which would have prevented the nomination from advancing to the full Senate.\u00a0<\/p>\n With his backing now in place, the committee is set to vote on April 29, while a full Senate vote is expected to follow, potentially during the week of May 11.<\/p>\n Jerome Powell\u2019s current term is scheduled to end on May 15. If confirmed, Warsh is likely to assume the role within days, placing him at the helm of the U.S. central bank<\/a> at a time when monetary policy remains closely watched across markets.<\/p>\n Attention has turned to how Warsh might steer interest rate policy and what that could mean for risk-sensitive assets, including cryptocurrencies. Known for a cautious stance on aggressive rate cuts during his time as a Federal Reserve governor, Warsh has often been viewed as hawkish, a posture that can weigh on speculative markets.<\/p>\n At the same time, political pressure has added another layer to expectations. U.S. President Donald Trump has repeatedly urged the Federal Reserve to lower rates, prompting questions about whether new leadership could lean in that direction.\u00a0<\/p>\n Warsh, however, has indicated that policy decisions would remain insulated from external influence, noting that no such pressure has been directed at him.<\/p>\n Financial disclosures have also drawn interest from the digital asset sector. Warsh reported exposure to more than 30 crypto-related investments<\/a>, including holdings tied to Solana and activity linked to decentralized exchanges such as dYdX.\u00a0<\/p>\n The portfolio has led some market participants to view him as more familiar with the industry than previous candidates, even as his policy stance remains under close scrutiny.<\/p>\n With the confirmation process moving ahead, the focus now rests on the Senate vote and how quickly leadership at the Federal Reserve transitions once Powell\u2019s term concludes.<\/p>\n <\/p><\/div>\n\n\n
Policy outlook and crypto exposure<\/h2>\n