Gate News Report, March 11 — Kevin Warsh, the nominee for Federal Reserve Chairperson, nominated by U.S. President Trump, faced significant resistance during his efforts to gain support in Congress. Republican Senator Thom Tillis stated that he would continue to block any Federal Reserve nominations from advancing in the Senate Banking Committee until the Department of Justice concludes its investigation into current Fed Chair Jerome Powell. Tillis described his meeting with Warsh as “pleasant” and acknowledged his professionalism but emphasized that his opposition is not personal against Warsh, but aimed at maintaining the independence of the Federal Reserve. He warned that if markets perceive the Fed Chair as merely acting in accordance with the President’s wishes, it could negatively impact financial markets. Given the narrow Republican majority in the Senate and the Banking Committee, Tillis’s opposition could prevent Warsh’s nomination from proceeding to a full Senate vote. Currently, Warsh is actively meeting with lawmakers to garner support, but it remains uncertain whether he can be confirmed before Powell’s term ends in May.
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