🏛️ Federal Reserve Under Scrutiny

Treasury Secretary Scott Bessent agreed with lawmakers who suggested the Senate Banking Committee could investigate Federal Reserve Chair Jerome Powell, instead of the Justice Department during a closed-door Republican meeting.

Powell revealed he was the subject of an unprecedented DOJ investigation relating to cost overruns on Fed headquarters renovation, which Trump critics characterize as an attempt to pressure the independent central bank.

Sen. Thom Tillis has vowed to block Trump's Fed nominee Kevin Warsh until the Powell probe is resolved.

The situation highlights tensions between executive branch influence and Federal Reserve independence.

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