Republican Senator Thom Tillis said he will now support Kevin Warsh for Federal Reserve chair after the US Department of Justice closed its three month probe into Jerome Powell.
The move removes a key Senate obstacle for Warsh, a former Fed governor, as Powell’s term nears its end on May 15.
Tillis, who sits on the Senate Banking Committee, had warned that he would not support Warsh’s confirmation while the criminal investigation into Powell remained open.
Kevin Warsh Confirmation Gets Boost From Thom Tillis
Tillis announced his decision Sunday in a post on X. He said he received assurance that the DOJ investigation into Powell had ended.
The probe focused on the Federal Reserve’s billion dollar headquarters renovation project. It lasted three months and raised concerns over the central bank’s independence.
“I have been clear from the start: the U.S. Attorney’s Office criminal investigation into Chair Powell was a serious threat to the Fed’s independence, and it needed to end before I could support Kevin Warsh’s confirmation,”
Tillis said.
He also backed a separate inspector general review into the matter.
“I welcome the inspector general’s investigation. This is a necessary and appropriate measure, and I have confidence it will be conducted thoroughly and professionally,” he added.
The decision matters because Tillis had leverage inside the confirmation process. As a Republican member of the Senate Banking Committee, he could have slowed or blocked the nomination.
He could have used a procedural hold. He also could have withheld his vote and stopped the committee from sending Warsh’s nomination to the full Senate.
Kevin Warsh Fed Vote Moves Toward Senate Banking Committee
The Senate Banking Committee has scheduled its vote for April 29. The full Senate vote does not yet have a set date.
However, the vote could happen during the week of May 11, according to the reported timeline. That would place the confirmation process close to the end of Powell’s term.
Powell’s tenure is set to end on May 15. If the Senate confirms Warsh, he would likely take office in the following days.
The confirmation process comes at a sensitive time for the Federal Reserve. The central bank faces pressure over interest rates, inflation, and broader market conditions.
President Donald Trump has repeatedly pushed Powell to cut interest rates. That pressure has added attention to the next Fed chair and the direction of monetary policy.
Still, Warsh has not clearly said how he would move on rates. He has said Trump has not pressured him. He has also said Fed decisions would remain independent.
Kevin Warsh Fed Policy Could Matter For Crypto Markets
The crypto market is watching Warsh’s possible leadership because Fed policy often affects risk assets. Higher interest rates can make investors less willing to hold assets such as cryptocurrency.
Warsh has often been viewed as hawkish on fiscal policy and rate cuts. That means he has usually supported tighter financial conditions rather than fast rate reductions.
Because of that record, some market participants believe his leadership could weigh on higher risk assets. However, his exact policy direction as Fed chair remains unclear.
At the same time, Trump’s public pressure for lower rates has raised questions about whether Warsh could take a different path from Powell.
Warsh has not given a clear signal on future rate cuts. He has also avoided saying that political pressure would shape Fed policy.
For crypto, the discussion also includes Warsh’s personal exposure to digital assets. His recent investment disclosures showed exposure to more than 30 crypto projects.
Those disclosures included assets such as Solana. They also included decentralized exchange exposure, including dYdX.
That has made Warsh a notable figure for the crypto industry. However, his confirmation still depends on the committee vote and a later full Senate vote.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: April 27, 2026 • 🕓 Last updated: April 27, 2026
