Senator Thom Tillis has threatened to block future Federal Reserve nominations due to a criminal investigation concerning Fed Chair Jerome Powell. This investigation centers on Powell's testimony regarding the renovation costs of the Federal Reserve's headquarters.
• Investigation Announcement: Federal prosecutors began investigating Jerome Powell following complaints regarding the rising costs of renovating the Federal Reserve's Eccles Building, which increased from $1.9 billion to $2.5 billion.
• Accusations of Perjury: GOP Congresswoman Anna Paulina Luna accused Powell of perjury, claiming he made false statements concerning the renovation costs during his testimony before the U. S. Senate Committee on Banking, Housing, and Urban Affairs.
• Disputed Cost Assessment: Luna's claims suggest Powell downplayed significant cost overruns by referring to them as minor, despite evidence indicating otherwise.
• Tillis's Position: Tillis, a member of the Senate Finance Committee, announced he will oppose any new Fed nominees until the legal issues surrounding Powell are resolved. This includes the upcoming vacancy for the Fed Chair position.
• Powell's Response: In a public video message, Powell expressed his respect for the law but suggested that the investigation stems from political pressures rather than the validity of his testimony. He emphasized the Federal Reserve’s commitment to transparency and the importance of maintaining independence from political influence.
The investigation into Jerome Powell has significant implications for the future of Federal Reserve nominations, as Senator Tillis seeks to block any nominees until the matter is fully addressed. Powell's statements indicate he believes the inquiry may be politically motivated.
https://www.thegatewaypundit.com/2026/01/just-rino-tillis-threatens-block-fed-nominations-powell/
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