Summary
Senate Republican leaders are being cautious about the Department of Justice's investigation into Federal Reserve Chair Jerome Powell. They emphasize the importance of the Fed's independence in making monetary decisions without political influence. Some Republicans are skeptical that Powell did anything illegal, while others are waiting for more information from the investigation.
Key Facts
- Senate Republicans are cautious about the DOJ's investigation into Fed Chair Jerome Powell.
- They stress the importance of the Fed's independence from political pressure.
- Senate Majority Leader Thune emphasized a quick resolution to ensure monetary policy remains independent.
- Some senators, like Dave McCormick and John Kennedy, doubt Powell's involvement in illegal activities.
- Senators Collins and Murkowski expressed trust in Powell's integrity after speaking with him.
- Sen. Cynthia Lummis believes the American people need answers about Powell's past testimony.
- House Speaker Mike Johnson defended the DOJ's probe, while Senate Minority Leader Chuck Schumer criticized it as an attack on the Fed's independence.
- House Minority Leader Hakeem Jeffries believes there is no basis for targeting Powell criminally.
