Following Federal Reserve Chair Jerome Powell’s disclosure on Sunday that the Department of Justice (DOJ) has issued grand jury subpoenas to the central bank, the investigation has triggered political backlash on Capitol Hill.

Sen. Thom Tillis (R-N.C.), a member of the Senate Banking Committee, said he backs Powell and accused the DOJ of threatening the Fed’s independence. Tillis wrote on social media platform X that he will oppose the confirmation of any Fed nominee, including a new chair, until the investigation is resolved.

“If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end details ⇒

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