Two GOP senators to block Trump’s Fed pick until Powell probe ends

Two Republican senators have pledged to block President Trump’s nominee for the Federal Reserve. GOP Senators Thom Tillis and Lisa Murkowski won’t support the president’s Fed pick unless the criminal investigation into current Fed Chair Jerome Powell is resolved. The senators object to the Justice Department’s investigation, and Powell himself has called it a pretext by the Trump administration to force him to lower rates. Tillis described nominee Kevin Warsh as “a great, qualified candidate,” but is concerned about the president undermining” the credibility and the independence of the Fed.”