A key Republican senator who previously threatened to block President Trump's Federal Reserve nomination is signalling a potential change of course, marking a significant development in the contentious confirmation process for Kevin Warsh.
Senator Thom Tillis of North Carolina told media outlets that he is "prepared to move on with the confirmation" of Warsh following the Trump administration's decision to end its federal criminal investigation into current Federal Reserve Chair Jerome Powell.
Tillis had been one of the more vocal Republican opponents to Warsh's nomination, but the resolution of the Powell probe appears to have shifted the political calculus surrounding the appointment.
What This Means for the Nomination
The senator's potential support could prove decisive in securing Warsh's confirmation, as the Republican majority in the Senate works to advance Trump's nominee to lead the nation's central bank. The Federal Reserve chair position carries enormous influence over U.S. monetary policy, interest rates, and economic stability.
Warsh, a former Federal Reserve governor and investment banker, has been a contentious nominee due to his previous criticisms of the Fed's independence and his alignment with the Trump administration's economic priorities.
The removal of Tillis from the opposition column represents a watershed moment in what has been a fractious confirmation battle, though other senators' positions on the nominee remain unclear.
This story was adapted from reporting by NBC News.