US EditionTop Financial Services Republican: Powell investigation an ‘unnecessary distraction’
More than half a dozen Senate Republicans warn the DOJ probe risks undermining the Federal Reserve’s independence and delaying confirmation of future Fed nominees.
- On Sunday, January 11, Federal Reserve Chairman Jerome Powell announced the U.S. Department of Justice is investigating him, jeopardizing the Senate confirmation process for future Fed nominees.
- Powell said the probe is a contrived justification aimed at removing him, calling it a pretext tied to President Donald Trump's frustration over Federal Reserve independence and rate policies.
- House Financial Services Chair French Hill rebuked the investigation as an unnecessary distraction and defended Powell’s integrity, while Sen. Lisa Murkowski called it coercion and Sen. Cynthia Lummis urged waiting for DOJ findings.
- On Monday, Senate Majority Leader John Thune said allegations 'better be real and they better be serious,' as Senate Banking Republicans plan to discuss Powell probe delays, with Tillis opposing nominees until resolved.
- The dispute underscores intra-GOP disagreement over DOJ actions, as at least four Senate Republicans oppose the probe, warning Federal Reserve independence risks market stability and the broader economy.
18 Articles
18 Articles
A group of Republican senators crossed over to the government for their criminal investigation against Jerome Powell, president of the Federal Reserve (FED). Some even members of the Senate Banking Committee, charged with approving nominees from the president to the president of the Fed. Trump would need their support in case he managed to remove Powell to appoint a replacement. Read more
Republicans Break Ranks With Trump Over Powell Investigation
As President Donald Trump battles with criticism over his Venezuela operation and his renewed push to annex Greenland, he is now encountering backlash due to the Department of Justice’s probe into Jerome Powell, chair of the Federal Reserve. At a time when the Republican Party is likely eager to present a united front, given the high-stakes midterm elections taking place later this year, the Trump Administration’s move to open a criminal investi…
Fox Anchor Says Trump Admin Is ‘Backing Away’ From Powell Probe as Guest Calls It a ‘Big Unforced Error’
Fox Business anchor Stuart Varney reported Tuesday on the latest developments in the Trump Justice Department’s criminal investigation into Federal Reserve Chairman Jerome Powell and said it appears the Trump admin is “backing away.” Varney brought in market analyst David Bahnsen to discuss the ongoing impact of the Powell threat, which has led to widespread accusations that Trump is trying to politicize the Fed by weaponizing the DOJ against a …
Coverage Details
Bias Distribution
- 63% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
