Tillis said he first wants investigations into outgoing Fed chairman Jerome Powell to be abandoned before approving any replacement.
The controversy involves costly renovation overruns at Federal Reserve buildings, an issue Trump allies have increasingly used to criticize Powell.
Tillis argued that while the spending issues were “unfortunate,” they appeared legitimate and should not be weaponized politically.
His refusal to immediately support Warsh could complicate the confirmation process and potentially allow Powell to remain in place longer than expected.
Warsh also used the hearing to unveil what he described as a future “regime change” at the Federal Reserve.
He sharply criticized the Fed’s current communication strategy, particularly its use of “forward guidance,” where officials publicly signal the likely future direction of interest rates.
Warsh argued the system has become overly scripted, predictable, and disconnected from economic realities.
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