Senator Thom Tillis has endorsed Kevin Warsh for Federal Reserve Chair, a move that significantly bolsters Warsh's confirmation prospects. This development follows the Department of Justice's decision to close its probe into Jerome Powell.
Warsh's predicted confirmation by May 15 has surged to 93%, a dramatic increase from just 24 hours prior. This shift is directly attributed to Tillis's support on the Senate Banking Committee, which was conditional on the DOJ concluding its investigation. Market indicators now reflect a strong expectation for Warsh's eventual confirmation.
Tillis had previously represented the primary procedural hurdle on the Banking Committee. With his opposition removed, the path for Warsh's confirmation is now substantially clearer. While confirmation by May 15 is highly probable, uncertainty persists regarding the exact timeline.
Future catalysts to monitor include statements from other Banking Committee members and official scheduling of a full Senate floor vote. Any endorsement from President Trump or clear bipartisan backing could further solidify Warsh's position.