Bessent Backs Possible Senate Probe Of Powell Instead Of DOJ As Republicans Look To Break Senator Tillis’ Opposition: Report
Synopsis
Last month, Senator Thom Tillis said that he would oppose the nomination of Fed Chair until an investigation into Powell is resolved.
Treasury Secretary Scott Bessent reportedly agreed with lawmakers that Federal Reserve Chair Jerome Powell could be investigated by the Senate Banking Committee instead of the U.S. Department of Justice.
According to a Semafor report citing sources from a closed-door meeting of Senate Republicans, the discussion was an attempt at “testing the waters” to see if this could get Senator Thom Tillis (R-N.C.) to withdraw his opposition to the nomination of President Donald Trump’s Federal Reserve Chair pick, Kevin Warsh.
Last month, Sen. Tillis said he would oppose the nomination until an investigation into outgoing Fed Chair Jerome Powell is resolved.
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