Senator Tillis takes on DOJ probe of Federal Reserve Chair Powell

RALEIGH, N.C. (QUEEN CITY NEWS) — A North Carolina Republican lawmaker is putting himself in the middle of a fight between the Trump Administration and the Chair of the Federal Reserve.

Senator Thom Tillis said Sunday he will not vote to confirm any Federal Reserve nominees after the Department of Justice announced a probe into Fed Chair Jerome Powell.

Powell, the nation's top banker and official charged with setting the country's interest rates, took to social media after the DOJ apparently informed him of their investigation.

"No one. Certainly not the chair of the Federal Reserve is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure," said Powell.

Powell added that he was told it dealt with a high-priced, planned renovation of Federal Reserve office space. But in that same video posted to X, Powell argued that it was not the administration's true motive.

"The threat of criminal charges is a consequence of the Federal Reserve setting interest rates, based on our best assessment of what will serve the public, rather than following the preferences of the president," he said.

Senator Tillis, who has been critical of the administration in recent weeks, sided with Powell. Tills wrote in a post on X that he will not support any of President Trump's nominees to the Federal Reserve Board, adding that presidential advisers are "actively pushing to end the independence of the Federal Reserve."

White House Press Secretary Karoline Leavitt responded to Powell's allegations on Monday. She insisted the White House had no influence on the DOJ's decision to investigate.

"The president's made it quite clear that Jerome Powell is bad at his job. As for whether or not Jerome Powell is a criminal…that's an answer the Department of Justice is going to have to find out," said Leavitt.

Whatever comes of the investigation, if Trump wants to replace Powell, he can simply wait him out. The Fed Chair is set to end in May.