GOP Lawmakers Blast Trump's Probe Of Federal Reserve Chair Jerome Powell
HuffPost
"If the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer," warned Sen. Lisa Murkowski (R-Alaska).
WASHINGTON ― Republican lawmakers are coming to the defense of Federal Reserve Chair Jerome Powell following the opening of an unprecedented criminal probe into Powell by President Donald Trump’s Department of Justice over the weekend.
Sen. Thom Tillis (R-N.C.) suggested the investigation into renovations at the Fed’s headquarters is politically motivated, and threatened to oppose Trump’s nominees to the central bank until the matter is resolved.
“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 said in a statement on Sunday. “It is now the independence and credibility of the Department of Justice that are in question.”
As a member of the Senate Banking Committee, where Republicans hold a 13-11 majority, Tillis’ vote is pivotal in getting any nominations out to the full Senate floor.
Sen. Lisa Murkowski (R-Alaska) also said it’s “clear” that the probe is “nothing more than an attempt at coercion” by the White House, adding further that Congress ought to investigate the Justice Department if it doesn’t drop the investigation.
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The move represents a major escalation in President Donald Trump's battle with the Fed.
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