Fed chair pick Kevin Warsh meets with more senators

“It doesn’t look like such a nice day today,” Warsh quipped to a CNBC reporter in the Hart Senate Office Building, as heavy rain poured outside, on his way to a chat with Sen. Mike Rounds, R-S.D.

“Things are progressing well, good to see you,” Warsh said when asked how the meetings were going.

Rounds, after the meeting, posted on X that Warsh “will help keep the central bank accountable and focused on its statutory mission.”

Warsh’s nomination by President Donald Trump is bogged down because of an effective blockade imposed by Sen. Thom Tillis, a North Carolina Republican who sits on the Banking Committee. That panel is the first hurdle for would-be Fed board members such as Warsh.

Powell has said the criminal probe by the Department of Justice is the result of him and other Fed board members refusing to cut interest rates as quickly and as drastically as Trump has demanded.

Trump complained again Thursday in a Truth Social post about the Fed under Powell not lowering interest rates as much as he wants.

“Where is the Federal Reserve Chairman, Jerome `Too Late’ Powell, today? He should be dropping Interest Rates, IMMEDIATELY, not waiting for the next meeting!” Trump posted.

Tillis’ stance could prevent Warsh from getting a vote by the Senate to confirm him as head of the central bank until he retires at the end of his term in January.