US Treasury Secretary Bessent agreed with the suggestion that the Senate Banking Committee could investigate Fed Chair Powell, instead of the Department of Justice, Semafor reports citing sources; to see if Tillis (R) would lift his block on Fed nominees

• Some cited said this could be a good compromise. However, others were sceptical that this would be enough to get Tillis to remove the block.

The potential investigation of Fed Chair Powell by the Senate Banking Committee highlights a significant political maneuver that could impact Federal Reserve nominations. If successful, it may ease political tensions surrounding Fed appointments, which could in turn alter market expectations about future monetary policy and stability in the USD and interest rates. However, skepticism remains about whether this move will be sufficient to lift the current block, indicating ongoing uncertainty in the political landscape.