Senators Challenge Trump's Alleged Overreach in Fed Investigation

Democratic senators are demanding records from Trump's administration concerning a Justice Department probe into Fed Chair Jerome Powell. They claim the investigation aims to unduly pressure the Federal Reserve. This comes as Trump's attempts to remove Fed Governor Lisa Cook reach the Supreme Court.

U.S. Democratic senators Elizabeth Warren and Dick Durbin have intensified scrutiny on President Donald Trump's administration, requesting records about a Justice Department investigation into Federal Reserve Chair Jerome Powell. They allege this represents a misuse of power to influence Fed operations.

In letters addressed to Attorney General Pam Bondi and Federal Housing Finance Agency director Bill Pulte, Warren and Durbin expressed concern over the ongoing probe. The investigation appears to be part of a series of alleged efforts by Trump to exert control over the Federal Reserve, according to the senators.

Additionally, the Supreme Court will soon hear arguments regarding Trump's controversial attempt to remove Fed Governor Lisa Cook. These actions, the senators claim, are authoritarian and aimed at undermining the Fed's independence unless it complies with Trump's rate-cutting demands.

(With inputs from agencies.)