Donald Trump just opened a criminal investigation into Jerome Powell, the Federal Reserve chair he appointed, because Powell wouldn’t slash interest rates on demand.
That alone is a major red flag, but this kind of self-serving retribution isn’t new.
What’s new is this: Republicans are sounding the alarm. And they’re doing it on the record.
Republicans never like to leave a paper trail, which is what makes this moment so unusual.
Republican Senator Thom Tillis posted on X.
Republican Senator Lisa Murkowski echoed his concern after speaking directly with Powell, also posting on X.
And it didn’t stop there.
• House Financial Services Chair French Hill warned the probe “could undermine this and future administrations’ ability to make sound monetary policy decisions.”
• Senator Kevin Cramer, a Powell critic on the Senate Banking Committee said bluntly: “I do not believe he is a criminal.”
• Congressman Frank Lucas stressed that Fed independence is “critical” to achieving economic outcomes.
This isn’t defiance. It’s all talk, no walk. Concern without consequences. And that’s why nothing actually changes. Republicans can and should do better, but they choose not to.
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