Trump's Dispute with Powell Becomes a "Stumbling Block" to Warsh's Appointment

Odaily News Institutions point out that before the new Federal Reserve Chair even begins to push for interest rate cuts, Trump may have to abandon his punitive actions against Powell. Trump's criminal prosecution of Powell has angered some of Trump's allies in Congress and prompted a key Republican senator, Tillis, to vow to block all Federal Reserve nominations until the outcome of this investigation is known. As of now, Tillis remains firm in his stance. Meanwhile, Trump has not backed down either, even stating that he is willing to wait until Tillis retires in January 2027 before seeking Senate approval for Warsh.