‘Somebody in DoJ thought it would be cute to probe Powell’: Tillis withholds support for Kevin Warsh

Senator Thom Tillis withheld support for Kevin Warsh’s potential Federal Reserve nomination, citing concerns over a perceived politicized Justice Department probe into Fed Chair Jerome Powell. This development introduces political risk into the central bank’s leadership dynamics, affecting market perceptions of Warsh’s confirmation prospects. The WARSH asset, which reflects Warsh’s perceived probability of appointment, is particularly exposed to shifts in Senate backing and partisan sentiment around Fed independence. Traders are assessing whether the DoJ scrutiny—real or alleged—impacts broader confidence in technocratic appointments. The next key catalyst will be public statements from other swing senators on Warsh’s nomination and any formal response from the Justice Department regarding Powell.

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