The Senate Banking Committee voted Wednesday to advance Kevin Warsh’s nomination to lead the Federal Reserve, just days after the Department of Justice (DOJ) said it was dropping its criminal probe into Fed Chair Jerome Powell.
The panel voted 13-11 along party lines to send Warsh’s nomination to the full Senate, bringing him one step closer to taking the reins at the central bank.
Warsh’s confirmation has remained in limbo for nearly two months, as the Powell probe complicated the path forward for President Trump’s pick to replace the outgoing Fed chair.
Sen. Thom Tillis (R-N.C.), who sits on the Senate Banking Committee, vowed to block Warsh from advancing while the investigation into Powell’s handling of Fed renovations was ongoing.
U.S. Attorney Jeanine Pirro, who initially approved the probe in November, announced Friday that she was turning over the investigation to the Fed inspector general and closing the DOJ’s probe.
