"Several Republican lawmakers have begun speaking out against the Trump administration's criminal investigation into Federal Reserve chair Jerome Powell, with one senator going so far as to threaten all Fed nominations as a result. Thom Tillis, a senator from North Carolina, vowed to block all Federal Reserve nominations after the justice department opened the investigation, inflaming tensions over the central bank's independence."
"If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none, Tillis wrote on X. It is now the independence and credibility of the Department of Justice that are in question. Alaska Republican senator Lisa Murkowski said she spoke with Powell Monday morning, writing on X: it's clear the administration's investigation is nothing more than an attempt at coercion"
Republican lawmakers criticized the Justice Department's criminal investigation into Federal Reserve chair Jerome Powell and warned it threatens the Fed's independence. Senator Thom Tillis vowed to block all Federal Reserve nominations, including the upcoming chair vacancy, until the legal matter is resolved. Senator Lisa Murkowski called the investigation coercive and urged Congress to probe the Justice Department's reasoning. Representatives Frank Lucas and Mike Lawler also voiced support for an independent Fed, with Lawler saying he opposes efforts to pressure the central bank despite criticizing Powell's past decisions on inflation and interest rates. The Justice Department subpoenaed the Federal Reserve regarding Powell's Senate testimony about renovation costs.
Read at www.theguardian.com
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