Squawk Pod Sen. Thom Tillis, Charles Schwab CEO, & Fed Politics 2/4/26
Feb 4, 2026
Rick Wurster, Charles Schwab CEO, talks investing trends, Gen Z saving habits, and shifts in trading and wealth management. Sen. Thom Tillis, retiring U.S. senator from North Carolina, blasts the DOJ probe of the Fed, discusses Fed testimony and immigration policy execution. Short, lively conversations on markets, oversight, and policy tensions.
AI Snips
Chapters
Transcript
Episode notes
Probe Could Threaten Fed Independence
- Sen. Thom Tillis argues the DOJ probe into Fed Chair Jerome Powell risks undermining Fed independence and appears politically motivated.
- He calls the renovation-based investigation frivolous and says it could chill standard Fed transitions and governance.
Let The Process Run Before Confirmations
- Let the legal process play out but avoid politicizing prosecutorial tools to settle policy disagreements.
- Tillis says Congress should resolve the matter before confirming new Fed nominees like Kevin Warsh.
Investigation Could Alter Fed Norms
- Tillis warns the investigation may prompt Powell to remain on the Fed board beyond tradition, creating institutional disruption.
- He views deals that trade Powell's departure for dropping the probe as problematic and potentially implying guilt.