Federal Reserve chair nominee Kevin Wersh’s chances of being quickly confirmed by the Senate looked bleak under the weather in Washington on Thursday as he met with more senators to bolster his chances.
“Today’s not looking so good,” Warsh quipped to a CNBC reporter at the Hart Senate Office Building, as it rained heavily outside, as he joined Senator Mike Rounds, R-S.D. Were going for talks with.
When Warash was asked how the meetings were going he said, “Things are progressing well, good to see you.”
round after the meeting, Posted on x That Warsh “will help keep the central bank accountable and focused on its statutory mission.”
Warsh’s nomination by President Donald Trump has been stalled due to effective obstruction by Senator Thom Tillis, a North Carolina Republican who sits on the Banking Committee. That panel is the first hurdle for prospective Fed board members like Warsh.
Tillis has vowed to vote against passing Warsh’s nomination or any other Fed nominee to the full Senate for a confirmation vote as long as the criminal investigation into Fed Chairman Jerome Powell continues.
Powell has said that the criminal investigation by the Justice Department is a result of his and other Fed Board members’ refusal to cut interest rates as quickly and deeply as Trump had demanded.
Trump complained again on Thursday Truth in social post About the Fed, under Powell’s leadership, not lowering interest rates as much as it would like.
“Where is Jerome ‘Too Late’ Powell, Chairman of the Federal Reserve, today? He should be removing interest rates immediately, without waiting for the next meeting!”. Trump posted.
Tillis’ stance could prevent Warsh from getting a vote by the Senate to confirm him as head of the central bank until he retires at the end of his term in January.
Kevin Wersh, former governor of the US Federal Reserve, walks for lunch during the Allen & Company media and technology conference in Sun Valley, Idaho, US, on Wednesday, July 9, 2025.
David Paul Morris | Bloomberg | getty images