[Trump Says Waller Will Not Be Nominated as Fed Chair if He Advocates Rate Hikes] On February 5, U.S. President Donald Trump stated in an interview with NBC News that if Kevin Waller had expressed support for raising interest rates, he would not be nominated as Federal Reserve Chair. Trump said there is 'not much suspense' about the Fed cutting rates, as current rates are too high, and he believes Waller understands the president's stance on lowering the benchmark interest rate. Republican Senator Thom Tillis of the Senate Banking Committee vowed to block any nominations to the Federal Reserve until the Department of Justice concludes its investigation into the renovation project at the Fed's headquarters. Current Chair Jerome Powell called the investigation an attack on the Fed's independence, a claim denied by Trump administration officials. Waller, once known as a hawk on inflation, has recently expressed support for rate cuts.