Sen. Tillis Calls for End to Powell Probe During Warsh Hearing

Republican Sen. Thom Tillis called on the Department of Justice to end its probe into Federal Reserve Chair Jerome Powell for the Fed building cost overruns so he can support Kevin Warsh’s nomination. Tillis praised Warsh during the Senate hearing for Trump’s pick for Fed chair, saying, “I look forward to supporting your nomination, and I look forward to this investigation being taken down.” Tillis expanded on the Fed building's renovation costs, saying, “There were a variety of reasons why this building went over budget. And as a matter of fact, if we put everybody in prison in federal government that had had a budget go over, we’d have to reserve an area roughly the size of Texas for a penal colony because of way government projects work.” (Source: Bloomberg)