When the former Fed governor was announced as the next chairman, the President assured that he would not be the one blinking over the Senate’s roadblock. The obstacle, however, comes in the form of a senator who has made it clear that the nomination will not move forward until the investigation into the current chair ends.
In the Oval Office on Friday, the President was asked about Senator Thom Tillis’s pledge to block the pick until a criminal probe of Jerome Powell concludes. Trump answered that if the senator refuses, the process would simply have to wait for someone who does. That’s a rare outcome, and the senator’s term won’t expire until January 2027, so the standoff is likely to continue.
Tillis told a news outlet that he will only allow the nomination to proceed once the investigation is finished with a verdict of guilt or innocence—or if the charges are withdrawn because there is insufficient basis for prosecution. The senator’s stance is rooted in a broader principle of Fed independence.
Washington observers are split on how this will play out. One strategist noted that the matter will ultimately resolve, but the timeline is unclear and political drama could emerge. Another analyst warned that if the investigation continues and the senator holds his blockade past the current chair’s term, the situation could become “very messy and unclear.”
Senator Tillis is not alone. Democrats and at least one Republican colleague—Lisa Murkowski of Alaska—are likely to join him in opposing the pick. The combined opposition could stall the nomination in the Senate Banking Committee, where a narrow Republican majority means a single no vote could tie the committee and block a floor vote.
Adding to the tension, the President recently joked at a closed‑door dinner that he would sue the nominee if he didn’t lower interest rates. He later brushed off the remark as a comedic moment, but it only added fuel to the fire.
Despite the obstacles, the President expressed confidence that the nominee could garner enough support in the Senate, even from Democrats. Yet market experts caution that a confirmation might not happen until March or April, and that the President may need to withdraw the investigation with a clear process before proceeding.
With Powell’s term ending in May, the Fed would need to appoint a temporary leader while the Senate deliberates. The most likely interim chair is Vice Chair Philip Jefferson, whose own term ends in September 2027.
The President has made it clear he will not halt the investigation, describing Powell as either incompetent or a crook. He says the inquiry will ultimately reveal the truth.
When the nomination finally proceeds, the nominee is expected to be confirmed. The senator who blocked the pick praised the choice but said his stance is about larger principles and would not change.
The opposition’s impact is amplified by the senator’s role on the Banking Committee, where a single no vote with Democrats could tie and halt the nomination. Democrats have already signaled their opposition, with the committee’s ranking member demanding that any cases against Powell and another governor be dropped before the nomination moves forward.
Senate Majority Leader John Thune could try to force the issue if the committee stalls, but he has expressed doubt that such a maneuver would succeed.
