Senator Thom Tillis announced on Sunday that he is ending his blockade of Kevin Warsh's nomination to lead the Federal Reserve. The move clears the last significant obstacle for President Donald Trump's pick to succeed current chair Jerome Powell, whose term is scheduled to end on May 15.
Tillis had previously stalled the nomination in the GOP-controlled Senate Banking Committee, conditioned on the Justice Department ending its criminal investigation into Powell. U.S. Attorney Jeanine Pirro announced Friday that her office is dropping the probe, which centered on the $2.5 billion renovation of the central bank's headquarters.
The senator had viewed the investigation as a threat to the political independence of the Federal Reserve. With the Department of Justice standing down, Tillis stated he would now support the confirmation of Warsh.