WASHINGTON – Republican Sen. Thom Tillis of North Carolina suggested Thursday that he might support a compromise that would allow the Senate Banking Committee to begin hearings. Kevin WarsawPresident Donald Trump’s nominee for chairman of the Federal Reserve.
GOP senator says he’s open to compromise with Trump’s nominee for Federal Reserve chairman”What I’ve heard is there could be an off-ramp,” Tillis told reporters Thursday after a meeting of Senate Republicans. The compromise that has been suggested is for the Banking Committee, rather than the Justice Department, to investigate cost overruns on the Fed. $2.5 billion in renovations Two Washington, DC, office buildings.
Tillis said last month that he would block any consideration of Warsaw or any other Trump nominee at the Fed until the Justice Department recuses him. A criminal investigation of Fed Chair Jerome Powell On his testimony last summer about reforms. Tillis reiterated that view in remarks on the Senate floor Thursday.
The investigation was revealed by Powell in an unusually blunt video statement last month, in which he said it was part of the Trump administration’s effort to force the Fed to lower its key interest rates. Powell was subpoenaed by the Justice Department last June for comments he made about building renovations while testifying before the Banking Committee.
“Until this matter is resolved I will not allow any board member for the Federal Reserve to go through the banking committee, to replace the chair or an expiring position,” Tillis said.
More Read
“I have no problem investigating us,” he added, “as we should in many other areas of government. I want to oversee the construction of the East Wing, so that it stays on target and doesn’t go over budget.”
The Trump administration demolished the East Wing of the White House last year to add a large ballroom.
Tillis also said on the Senate floor that “retaliatory prosecution is wrong, period,” adding that the investigation threatens the Fed’s longstanding independence from day-to-day politics.
More Read
This article was generated from an automated news agency feed without text modification
