President Trump's nominee for the Federal Reserve, Kevin Warsh, has faced scrutiny from senators over the central bank's independence and plans to divest his financial assets. Warsh defended his ethics agreement with the administration and argued that “independence is up to the Fed” and that he does not believe that it is threatened when elected officials state their views on interest rates. His comments were praised by Republicans and Democrats, but they did not immediately assuage concerns from Democrats. The scrutiny of interest rates and a criminal investigation into Fed Chair Jerome Powell has negatively impacted Warsh's prospects. However, Sen. Thom Tillis (R-N.C.) has vowed to oppose Warsh as Fed chief as long as the investigation into Powell continues.