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Sen. Thom Tillis on Friday reiterated his intent to hold up President Trump's pick for Fed chair until the Justice Department ends its criminal probe of Jerome Powell.
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The nomination of Kevin Warsh "avoids a lot of the worst-case scenarios, but it's still unclear what impact he will have on rates," one strategist said.
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Kevin M. Warsh, whom Mr. Trump tapped to become the next chair of the Federal Reserve, could face fierce resistance if he tries to pursue substantially lower borrowing costs.
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Stocks fall as investors weigh latest earnings, Warsh Fed chair pick; S&P 500 on pace for January gain: Live updates CNBCTrump names Kevin Warsh as his pick to replace Jerome Powell at the Federal Reserve CNNWarsh's Challenge: Navigating Fed Independence and Trump's Demands U.S. News & World ReportSen. Tillis will oppose Trump Fed chair pick Warsh until Powell probe resolved CNBC
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Warsh would replace current chair Jerome Powell when his term expires in May.
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Trump plans to nominate Kevin Warsh to be the next chair of the Federal Reserve, when Jerome Powell's term expires in May. The president has been pushing the central bank to slash interest rates.
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President Donalf Trump nominates Kevin Warsh as new Fed chair, potentially affecting interest rates and the economy
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President Donald Trump said he'll announce his nominee to chair the Federal Reserve on Friday morning — and prediction markets have turned sharply toward a former Fed governor for the post.
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