Sen. Thom Tillis says he’s ready to move ahead with confirming Warsh as Fed chair after DOJ drops probe on Powell

Senator Thom Tillis indicated support for advancing confirmation of Warsh as Federal Reserve chair following the Department of Justice's decision to drop its investigation into current Chair Jerome Powell. The development shifts market focus toward potential changes in Fed leadership and policy direction, with implications for rate path expectations and regulatory stance. The removal of legal uncertainty around Powell may stabilize near-term monetary policy continuity, but Warsh’s possible appointment introduces speculation over a more hawkish tilt, affecting rate differential and term premium repricing in Treasury markets. Financial assets most exposed include long-end U.S. yields and bank equities, which could benefit from a tighter policy outlook. Traders will watch the upcoming Senate Banking Committee hearing date announcement as the next catalyst for Warsh nomination sentiment.

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