Senator Lisa Murkowski said Monday on X, “After speaking with Chair Powell this morning, it’s clear the administration’s investigation is nothing more than an attempt at coercion.
Thom Tillis, a member of the Senate Banking Committee who will retire at the end of his term this year, has vowed to block all of the Trump administration’s Fed nominees until the Department of Justice backs off from its investigation into Powell and other Fed officials.
Powell sounded the alarm over the DOJ’s investigation into himself Sunday, saying that the independence of the financial body was at stake over “the administration’s threats and ongoing pressure.” Now it seems that some Republicans agree. The question is whether Trump will back down or still try to strong-arm Powell and the Fed.
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