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flag Senator Tillis opposes all Fed nominees over DOJ probe into Powell’s renovation testimony, citing threats to Fed independence.

flag Senator Thom Tillis, R-N.C., announced he will oppose all Federal Reserve nominees, including the next chair, due to a Justice Department criminal investigation into Chair Jerome Powell’s testimony about a Fed building renovation. flag The probe, which involves grand jury subpoenas, has sparked concerns about political interference in the central bank’s independence. flag Tillis, a key Senate Banking Committee member, called the investigation a threat to the DOJ and Fed credibility, while Powell denied wrongdoing, claiming the probe is politically motivated and tied to policy disagreements over interest rates. flag President Trump is set to interview BlackRock’s Rick Rieder, among four finalists, for the role, with a decision expected by late January. flag The outcome could impact the Fed’s autonomy amid growing political tensions.

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