Senator Tillis Agrees to Advance Walsh's Fed Chair Nomination, Confirmation Probability Rises to 93% by May 15

On April 26, Senator Thom Tillis, who had previously stated he would obstruct the confirmation of Kevin Walsh as Federal Reserve Chair, made a concession and is now prepared to advance the Senate confirmation process. Tillis had firmly declared that he would not support Walsh’s nomination as long as the Justice Department did not halt its investigation into Powell. However, on April 24, U.S. Attorney for Washington, D.C., Matthew Graves, announced that the investigation into Federal Reserve Chair Powell’s building costs would be discontinued. Tillis’s concession paves the way for the confirmation of Kevin Walsh as Federal Reserve Chair. According to PolyBeats monitoring, the probability of Walsh being ultimately confirmed as Federal Reserve Chair on the prediction market Polymarket has risen, with the likelihood of confirmation before Powell’s term ends on May 15 now at 93%.