Senator Thom Tillis (R-NC) delivered a passionate speech on the Senate floor on January 10, 2024, expressing his concerns about actions taken by former President Donald Trump. Tillis warned that Trump’s recent behavior could potentially destabilize both the U.S. economy and the international order without justification. As he prepares to retire at the end of the year, Tillis has become increasingly vocal against Trump, emphasizing the significance of the issues at stake.
In his address, Tillis highlighted Trump’s provocative suggestion to invade and annex Greenland from Denmark. “The thought of the United States taking a position that we would take Greenland … is absurd,” he stated. He questioned the validity of advice Trump may have received regarding this matter, asserting that such an approach does not make sense.
Tillis also addressed the ongoing criminal investigation into Jerome Powell, the Chair of the Federal Reserve. Trump’s administration has accused Powell of misleading Congress concerning a $2.5 billion renovation of the Federal Reserve’s headquarters in Washington, D.C. Powell has denied any wrongdoing, suggesting that the investigation serves as a pretext to pressure the Fed into lowering interest rates. Notably, many Republican senators, including Tillis, have expressed discomfort with this probe.
The senator remarked that the likelihood of Powell facing conviction is “virtually impossible.” He explained that the absence of a negative reaction from financial markets could be attributed to the fact that numerous lawmakers are voicing their concerns. “One of the reasons financial markets didn’t react precipitously in a negative way … is because many people stood up in Congress and said ‘this seems to be crossing a line,'” he added.
As tensions surrounding Trump’s actions grow, Tillis has indicated that he may block any new nominees for the Federal Reserve until the situation regarding Powell is resolved. This stance further underscores the political ramifications of Trump’s influence on financial governance in the United States.
Tillis’ remarks come at a time when the political landscape is increasingly polarized. His willingness to publicly criticize Trump reflects a broader concern among some Republicans regarding the former president’s impact on their party and the country’s stability. As the political discourse continues to evolve, the implications of such speeches could resonate throughout the upcoming election cycle.
