politics
February 12, 2026
Fed chair drama: Tillis pours cold water on off-ramp for Powell criminal probe
Sen. Thom Tillis says handing off the DOJ's criminal probe of Fed Chair Jerome Powell to the Senate Banking Committee wouldn't satisfy his concerns.
TL;DR
- Sen. Thom Tillis rejected a proposal to move the DOJ's criminal probe of Fed Chair Jerome Powell to the Senate Banking Committee.
- The proposed 'off-ramp' aimed to satisfy President Trump while removing the threat of prosecution against Powell.
- Tillis stated that the Senate Banking Committee conducts oversight, not prosecution.
- He insists the investigation must be resolved independently or moved forward with a compelling outcome to convince him he was wrong.
- Tillis maintained his blockade on Kevin Warsh's nomination if the current investigation is not resolved.
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