On Tuesday, Punchbowl News reported that U.S. Republican Senator Thom Tillis of North Carolina stated he would accept initiating the review process for the nomination of Kevin Warsh as Federal Reserve Chair. A Punchbowl reporter posted on social media platform X that Tillis indicated he did not require any additional answers from Warsh and considered him a "qualified candidate."

However, Tillis also noted that Warsh's nomination might remain stalled in the Senate committee for "some time" due to his prior pledge to block the nomination.

Last week, former President Trump formally nominated Warsh for the position of Federal Reserve Chair, intending for him to succeed Jerome Powell. Tillis had previously stated multiple times that he would block Warsh's nomination from advancing in the Senate until an investigation into Powell was dropped. Powell has denied any wrongdoing, stating he became a subject of investigation because he refused to lower interest rates sharply and rapidly as Trump had demanded.

According to CNBC, Tillis said on Tuesday that nothing Warsh could say in their meeting would persuade him to end his obstruction of the confirmation process for Warsh's nomination. When asked if Warsh might change his stance during their scheduled meeting later that day, potentially allowing a full Senate vote, Tillis replied to reporters, "No, no. It's not personal; it's procedural. I think it's a foul."

Tillis expressed that he was already impressed with Warsh's capabilities. "I've been familiar with his work for a long time, which is why I'm so frustrated—I can't cast this vote until other issues are resolved."

Tillis also pointed out that he and other members of the Senate Banking Committee had previously heard testimony from Powell regarding a multi-billion dollar renovation project at the Federal Reserve's headquarters in Washington, D.C. Powell stated he was under investigation by the Washington federal prosecutor's office concerning that project and his testimony before the banking committee.

On Tuesday, Tillis said, "Seven members of the banking committee were present at the time, essentially witnesses to the alleged crime scene, and they all said no crime occurred. So why are we still discussing this and delaying the nomination of an excellent candidate?"

Additionally, Tillis noted that besides the ongoing investigation into Powell, the U.S. Supreme Court has yet to rule on whether Trump had the authority to fire Federal Reserve Governor Lisa Cook. Tillis described the effort to dismiss Cook as "childish and ridiculous" on Tuesday, adding that whoever proposed the idea should also be fired.

Trump had previously stated he wanted to fire Cook due to allegations from Bill Pulte, head of the Federal Housing Finance Agency, who accused her of involvement in mortgage fraud. Supporters of Cook, however, stated that she, like Powell, denied any wrongdoing and believed she was targeted for opposing Trump's demands on interest rates.