US Governance — 2026-04-15

Warsh Fed Chair Confirmation Hearing Delayed as Tillis Maintains Blockade Over Powell Probe

Kevin Warsh's Senate Banking Committee confirmation hearing for Federal Reserve chair was delayed from April 16 and rescheduled to April 21, with Senator Thom Tillis maintaining his refusal to vote for any nominee until the Pirro criminal probe into Powell is dropped. New financial disclosures revealed Warsh has extensive ties requiring recusal decisions. With the committee split 13-11 Republican-Democrat, Tillis's single vote can stalemate the nomination. Powell's term expires May 15, creating a potential Fed leadership vacuum during the Iran-induced economic crisis.

Analysis
The probe has become self-defeating: what was designed to pressure the Fed now stalls the president's own nominee at a committee where a single Republican defection creates stalemate. Warsh's financial disclosures add recusal requirements that narrow a chairship already arriving under a cloud. The five-day hearing slip compresses confirmation against Powell's May 15 departure; a sustained hold creates a leadership vacuum at the central bank during an Iran-driven energy shock demanding decisive monetary response. Tillis may also be extracting unrelated concessions, with the central bank independence argument serving as cover.

2 sources

Confirmation hearing set for Trump's Fed chair nominee, top Republican says - CNN
Jerome Powell's Final Month at the Fed Arrives Amid Iran Pressure, Kevin Warsh Confirmation Chaos - Foreign Policy Journal